BOC aims at enhanced risk control

Bank of China will strive to prevent and resolve risks in key areas such as local government debt and the real estate sector, helping ensure both overall economic development and security, said its chairman Ge Haijiao in an exclusive interview with Xinhua News Agency published on Wednesday.

Ge said that as for preventing and resolving local government debt risks, BOC will improve and diversify its debt resolution tools, actively support local governments in steadily resolving existing risks and strictly preventing new risks. In the meantime, it will help improve local governments' ability to independently raise funds by strengthening support for the local real economy, science-based and innovation-oriented enterprises, as well as small and micro enterprises.

To address risks in the property sector, BOC will strictly implement relevant policies and adhere to the principles of marketization and the rule of law, thus ensuring smooth and orderly financing for real estate enterprises. It will also proactively optimize the credit structure of the property sector and provide financial support for rental housing, village renewal and construction of affordable homes, Ge said.