BEIJING, Nov 19 (Reuters) – China’s financial institutions must support small and private firms, a vice chairman of the country’s banking and insurance regulator said on Monday.
Zhou Liang, vice chairman of China’s Banking and Insurance Regulatory Commission (CBIRC), told a finance forum that authorities will crack down on Ponzi schemes disguised as financial innovations.
Zhou also said China will maintain a prudent stance on monetary policy and ample liquidity. (Reporting by Kevin Yao and Beijing Monitoring Desk Editing by Shri Navaratnam)
Our Standards:The Thomson Reuters Trust Principles.