PBOC Governor Pan Gongsheng: Maintaining High-Pressure Crackdown on Illegal Financial Activities Such as Virtual Currency Speculation, Key Financial Risks Are Contained

Odaily News At a press conference on economic topics during the Fourth Session of the 14th National People's Congress, Pan Gongsheng, Governor of the People's Bank of China (PBOC), stated that over the past year, financial risks in key areas of China have been resolved in an orderly manner overall, with the financial system and markets operating smoothly and risks in key areas continuing to be contained. The PBOC, in collaboration with relevant departments, has maintained a high-pressure crackdown stance on illegal financial activities such as illegal fundraising, virtual currency trading speculation, and underground banking. In the next step, the PBOC will continue to orderly resolve risks in key areas to prevent financial risks and maintain financial stability, work with industry regulators and law enforcement departments such as public security to continue the high-pressure crackdown on illegal financial activities, closely monitor and assess the impact of external shocks, and utilize macroprudential and financial stability policy tools to promptly mitigate or block risk contagion.