Regulator: Risks in smaller banks under control

China's small and medium-sized banks are running smoothly with relatively ample liquidity, and their overall risks are under control, the country's banking and insurance regulator said on Sunday.

Although a few small and medium-sized banks failed to publish their annual reports on time, those were all special cases. Some of them are still in the middle of equity restructuring; some are preparing for listing on the stock exchange; and some have not yet completed audit procedures due to change of auditor, according to the regulator.

They have reported their situations to regulatory authorities, who will urge the agencies concerned to speed up the audit so that the banks will release their financial results as soon as possible, the China Banking and Insurance Regulatory Commission said in an interview with Financial News, a publication run by the People's Bank of China, the central bank.