Foreign banks facing grave challenge in running and monitoring: Liu Mingkang

The other day, Liu Mingkang, head of China Banking  Regulatory commission, said  parts of foreign-based banks have not handled well in their management and running, thus could brining about the risk of fluidity, credit and in running which are worse paying close attention. Foreign banks are now facing grave challenge in their management. <?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />

He stressed China has fulfilled at present the coping mechanism intending to raise risk-resistance-capability of the foreign banks in  prevention of  cross-border risks by means of joint-supervision and the monitoring  “toolbox” for the foreign banks.

He also said if we had a tough year before, we would face more complicated situations in this year, for it sees no end to the world financial turmoil, the uncertainty of the global recovery, and the difficulties ever increased in domestic structural transfer and the contradictions curbing faster-moderate economic growth.

Vice-Chairman of CBRC Wanf Zhaoxing while indicated , as supervisors of foreign banks, we should handle well the link points in safeguarding, monitoring, controlling and tackling the risks, as well as coordinate three factors in supervision mechanism like the regulation, measurement and the work staff.