Banks to balance social responsibility with risk prevention

Chinese financial institutions have vowed to strengthen financial support for poverty-stricken areas while mitigating against debt default risks, as an important element of the country's antipoverty battle.

"Financial institutions need to better balance the relationship between fulfilling social responsibility and preventing financial risks," said Liu Guoqiang, the central bank's vice-governor, at a meeting held in Jinping county in Guizhou province last week.

He called for higher attention to be paid to potential risks in anti-poverty programs, while continuing to earmark financial resources for poverty alleviation-related investment.