People's Bank of China Governor Pan Gongsheng: Continue to exert high pressure to crack down on illegal financial activities such as virtual currency speculation, with a focus on financial risk containment

Odaily Planet Daily reports that People’s Bank of China Governor Pan Gongsheng stated at the Fourth Session of the 14th National People’s Congress during the economic press conference that over the past year, overall, China’s key financial risks have been orderly resolved, the financial system and markets have operated smoothly, and risks in key areas have continued to converge. The People’s Bank of China, together with relevant departments, maintains a high-pressure crackdown on illegal financial activities such as illegal fundraising, virtual currency trading and speculation, and underground banks. Moving forward, the People’s Bank of China will orderly resolve risks in key areas to prevent financial risks and maintain financial stability. It will continue to work with industry regulators and law enforcement agencies to crack down on illegal financial activities, closely monitor and assess the impact of external shocks, and use macroprudential and financial stability policy tools to timely weaken or block risk contagion.