久久亚洲国产成人影院-久久亚洲国产的中文-久久亚洲国产高清-久久亚洲国产精品-亚洲图片偷拍自拍-亚洲图色视频

Global EditionASIA 中文雙語Fran?ais
Business
Home / Business / Policies

IMF warns of buildup in financial risks, calls for solutions

By Zhou Lanxu and Chen Jia | China Daily | Updated: 2019-10-18 09:00
Share
Share - WeChat
Pedestrians walk in front of the IMF building during the IMF and World Bank Fall Meetings on Tuesday in Washington, DC. [Photo/Agencies]

The International Monetary Fund has called for "urgent action" by policymakers to tackle rising financial vulnerabilities across the globe, as a loose monetary environment has magnified debt burden and encouraged riskier investments.

Over the past six months, while global central banks' shift toward a more dovish stance mitigated near-term downside concerns amid escalated trade disputes, it also "encouraged more financial risk-taking and a further buildup of financial vulnerabilities", the multilateral lending agency said in its latest Global Financial Stability Report.

The rising financial instabilities are "putting medium-term growth at risk", said the IMF report released on Wednesday.

"Policymakers need to take urgent action to mitigate financial stability risks," Tobias Adrian, director of the monetary and capital markets department at the IMF, said during the launch of the report.

Specifically, the IMF listed three key vulnerabilities in the global financial system - rising corporate debt burden, increasing holdings of riskier and more illiquid assets by institutional investors, and greater reliance on external borrowings by emerging and frontier market economies.

As a low-interest-rate environment compelled investors to make riskier investments, the share of debt owed by firms with weak debt repayment capacity has risen to a "sizable" level in several major economies, and could reach post-global financial crisis levels in the event of a material economic downturn, the IMF said.

The IMF urged global policymakers to deploy and develop macro prudential tools as warranted as well as to maintain stringent financial supervision.

"We welcome the efforts of the Chinese authorities to increase financial stability," said Vitor Gaspar, director of the IMF's fiscal affairs department.

In a number of areas, financial regulations have been tightening, and the authorities have made an effort to deleverage some parts of the financial system, including the shadow banking system, Gaspar said.

"We do continue to urge the (Chinese) authorities to continue with that path of tightening financial regulations," he said, adding that the shadow banking system is still of a large size, while vulnerabilities remain for small- and medium-sized banks and regional banks.

In May, the Chinese authorities took over Baoshang Bank Co Ltd, a Baotou-based medium-sized distressed commercial lender. This was followed by the restructuring of another two troubled regional banks, the Bank of Jinzhou Co Ltd and the Hengfeng Bank Co Ltd.

"Market expectation has stabilized after the authorities took different approaches to resolving the exposed risks of several small-and medium-sized banks," said Tang Jianwei, chief researcher at the Financial Research Center of the Bank of Communications.

"Risk situation of China's banking sector is overall under control. The spread between the funding costs of highly rated and weaker borrowers remained relatively high, but it should have very limited impact on the whole market," Tang said.

He added that Chinese monetary authorities' determination to avoid an extremely low-interest-rate environment will help contain debt levels and curb asset bubbles, setting the basis for long-term healthy economic development.

The People's Bank of China, the central bank, has not loosened its monetary stance significantly as some other major economies like the United States and the European Union did this year. The PBOC has pledged to not resort to any massive monetary stimulus to tackle downside pressure.

Ruan Jianhong, head of the PBOC's statistics and analysis department, told reporters on Tuesday that the leverage ratio of China's real economy has remained stable in the third quarter, with a possible very limited increment.

The IMF report also urged policymakers to resolve trade disputes and provide clarity on economic policies, which will rein in the main drivers of global downside risks.

In the October update of the World Economic Outlook, the IMF downgraded its projection of global growth to a decade-low of 3 percent for 2019.

Xinhua contributed to this story.

Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
CLOSE
 
主站蜘蛛池模板: 久久久久久国产精品免费 | 亚洲精品高清久久 | 免费在线观看a | 久久久久一 | 一区二区三区在线免费看 | 日韩在线视精品在亚洲 | 欧美一级看片免费观看视频在线 | 久草在线新首页 | 午夜免费理论片a级 | 免费在线精品视频 | 在线欧美国产 | ririai99在线视频观看 | 欧美刺激午夜性久久久久久久 | 99视频在线精品免费 | 久久久久免费视频 | 国产视频高清在线观看 | 国产精品videosse | 欧美成人免费一区在线播放 | 中文字幕中文字幕中中文 | 国产成人精品三区 | 男女视频免费观看 | 欧美大片aaaa一级毛片 | 日韩一区二区在线免费观看 | xh98hx国产在线视频 | 成人a网站 | 日韩视频久久 | 毛片a片免费观看 | 97久久精品午夜一区二区 | 国产视频二区在线观看 | 久久免费毛片 | 日韩欧美二区 | 欧美性猛交xxxx免费看手交 | 精品九九久久国内精品 | 久久亚洲精品成人综合 | 高清成人 | 亚洲国产精品第一区二区 | 中文一区 | 一级毛片私人影院免费 | 成人免费福利网站在线看 | 美女一级毛片免费看看 | 亚洲无限看 |