China announces new list of systemically important banks

This photo taken on Oct. 19, 2023 shows the People's Bank of China in Beijing, capital of China. [Photo/Xinhua]

Chinese regulators on Friday released the latest list of domestic systemically important banks, consisting of 21 lenders.

Among these are six state-owned commercial banks, 10 joint-stock commercial banks and five urban commercial banks, according to the list released by the People's Bank of China and the National Financial Regulatory Administration.

The regulators divided the 21 banks into a total of five groups determined in ascending order of importance.

To improve the macro-prudential policy framework and strengthen the supervision of systemically important banks, the regulators carried out assessment and released the list.

The regulators will deepen the supervision of these banks to promote their safe, stable operations and healthy development, thereby supporting the high-quality development of the real economy.