PBOC sees three risks to China's banking system
Xiang said on Tuesday 26 April that credit risk is the major risk now. Due to lack of information, banks sometimes make wrong judgment of loan and investment, he said.
He said performance risk became an issue when information technology system turned invalid, but financial institution did not make instant reaction to mistakes, cheat, or immoral behaviours and suffered from losses.
Xiang said China's financial reform to prevent risks has become more and more important. Financial law can reduce the risks in the financial industry.
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