Banks Urged to Control Risk

By Maggie Zhang  |   2008-11-11  |     NEWSPAPER EDITION

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CHINA'S banking regulator has urged banks to strengthen risk controls, especially on companies with overseas business, the China Banking Regulatory Commission said yesterday.

Banks should ensure loan security by monitoring the lending of corporate clients, and ensuring collateral at companies which imported raw material and exported goods, said the CBRC's Chairman Liu Mingkang.

Lenders are urged to strengthen communications with companies about their sales performance and business operations. The current financial landscape is tough and the banking regulator will move a step ahead to supervise banks' management and risk control, Liu said.


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