Central bank to rein in risky State businesses

China's monetary authority set up its multitasking goals this year to better balance economic growth, financial deleveraging and risk prevention while maintaining a tough regulatory stance.

People's Bank of China, the central bank, kept the 2018 monetary policy tone as "prudent and neutral" in its monetary policy report released on Wednesday, pledging to control the total money supply and maintain reasonable credit growth while keeping its eye on the liquidity situation.

With the leveraging level high and the debt burden even higher for State-owned enterprises, the key task is to further enhance regulations on shadow banking activities and real estate financing, the central bank said, adding it also must regulate local governments' credit risks.