CCTV News:According to WeChat official account, the People’s Bank of China, the central bank said in the column of monetary policy implementation report in the first quarter of 2023 that China’s financial institutions have little exposure to Silicon Valley banks, and the impact of the bankruptcy of Silicon Valley banks on China’s financial market is controllable. At present, China’s financial system is operating steadily, and the banking industry, which accounts for more than 90% of the total assets of the financial industry, is generally stable. Most banking financial institutions are within the security boundary, and 24 large banks, which account for about 70% of the total assets of the banking industry, have maintained excellent ratings.
The central bank said that in the next step, the financial management department will continue to strengthen the construction of the financial stability guarantee system and firmly hold the bottom line that no systemic financial risks will occur. First, accelerate the construction of the legal system for financial stability, promote the promulgation of the Financial Stability Law, and improve the market-oriented and legalized financial risk disposal mechanism. The second is to strengthen financial risk monitoring and early warning, and give full play to the early correction of the deposit insurance system and the role of market-oriented risk disposal platform. Third, continuously enrich the financial risk disposal resources, improve the management mechanism of the financial stability guarantee fund, and operate and cooperate with the deposit insurance fund and related industry guarantee funds in a two-tier manner to jointly safeguard financial stability and security.