China to ‘Strictly Control’ Shadow Banking Risks, Liu Says

China’s banking regulator sought to ease concerns about the health of the nation’s lenders and the informal lending market, vowing to control risks and stressing measures already taken by the government are showing results.

Ratings companies and investment analysts have “underestimated” the nation’s determination and ability to carry out reforms, and are “talking down” the nation’s economy and banking industry, Chairman Liu Mingkang said, according to a transcript of a speech he gave that was posted on the website of the China Banking Regulatory Commission. The regulator is paying “great attention,” Liu said.