The People’s Bank of China (PBOC) Governor, Pan Gongsheng, has stated that financial risks in key areas are being resolved. According to Pan, the PBOC is closely monitoring and addressing risks in the financial sector, particularly in the areas of corporate debt, local government debt, and real estate. He emphasized that the central bank is taking proactive measures to prevent systemic risks and ensure financial stability.

Pan highlighted the progress made in resolving risks in the corporate debt sector, noting that the PBOC has been working with commercial banks to restructure debt and improve the credit structure. Additionally, he mentioned that the central bank is actively managing local government debt and has implemented policies to support the real estate sector, which has been experiencing a slowdown.

The PBOC has also been focusing on improving the financial system’s resilience and reducing leverage. Pan emphasized that the central bank is committed to maintaining financial stability and will continue to monitor and address risks as they arise. His comments suggest that the PBOC is confident in its ability to manage financial risks and maintain a stable financial environment.