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Yu Xuejun, chairman of the board of supervisors of state-owned key financial institutions of the China Banking and Insurance Regulatory Commission, said on Thursday that China's banking sector is currently facing difficulties in expanding its credit on a larger scale. Strict regulation will become the norm, and the banking sector will also face new exposure to large amounts of non-performing assets.
He also pointed out at the China Banking Development Forum in 2018 that money overshooting was the main factor in asset bubbles, that the real purchasing power of the renminbi had shrunk dramatically, and that external depreciation had increased inflationary pressures at home.
"The excessive expansion of monetary credit in the past few years and the rapid expansion of debt have led many enterprises to the situation that debt concentration is difficult to return, leading to the banking industry is now facing the threat of non-performing assets growth again." He said.
He also said that from the external environment, there is also an unprecedented situation, including the complex situation caused by Sino-US trade frictions; the Federal Reserve continues to raise interest rates, causing devaluation pressure on non-US currencies and the Renminbi, making monetary expansion difficult; the global financial environment is returning to normal monetary policy, right? China's macroeconomic regulation and control has an impact.


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