Policy moves boost long-term stability

The creation of a new financial stability committee and a top policymakers' pledge to strengthen regulation at the national financial meeting will help resolve potential systemic risks and support the long-term stability of China's financial sector, a senior official and experts said on Tuesday.

Lu Lei, head of the financial stability bureau of the People's Bank of China, said the new regulatory body will help to coordinate China's monetary, fiscal and industrial policies and address the lack of supervision in the country's financial markets.

While overall risks in China's financial sector are under control, risks in non-performing loans, shadow banking, the property market and the online financial market have been increasing, Lu said in an interview with People's Daily.