Big Four enhance risk management to promote asset quality

China's four largest State-owned commercial banks by assets said they are confident of maintaining stable asset quality this year, thanks to an upward trend in the nation's economy and their enhanced risk management capabilities.

Despite facing internal and external challenges, China's economy has strong resilience, huge potential, high vitality and a long-term positive outlook. As the effects of various economic and financial policies continue to emerge, economic recovery is accelerating, providing a favorable environment for the improvement of bank asset quality, said Wang Jingwu, senior executive vice-president of Industrial and Commercial Bank of China.

"ICBC has maintained steady operations, with a good foundation of asset quality, strong risk-offset ability and relatively large space for buffering. In 2022, indicators reflecting asset quality trends of the bank continuously improved," Wang said.