| China imposes banking rules that are more stringent than the global benchmark and the government will still continue to closely monitor risks over the rapidly-growing banking sector, a senior regulator disclosed at the Lujiazui Forum.
China is setting rules tougher than the new standards agreed by the Basel Committee on Banking Supervision, or Basel III.
"The Basel III set the minimum requirement, rather than the best option in our view," Fan Wenzhong, director-general of the China Banking Regulatory Commission, said on Saturday. "Considering China's banking industry's huge assets, it makes sense to take a prudent supervision policy."
China's banking assets topped 101 trillion yuan (US$16 trillion) at the end of March, up an annual 19 percent.
China's 2010 gross domestic product was 40 trillion yuan.
The CBRC demands that big banks maintain a core capital adequacy ratio at 5 percent by the end of 2013, which is above the Basel III core CAR of 4.5 percent by the same deadline. |
