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PBOC Says Number of High-Risk Banks to Fall as It Cracks Down

The People's Bank of China in Beijing.

The People's Bank of China in Beijing.

Photographer: Andrea Verdelli/Bloomberg

The People’s Bank of China said it expects the number of high-risk banks to continue to decline in coming years, vowing to persist with its campaign to curb financial risks in the economy.

By 2025, the number of lenders in the “high-risk” category in the PBOC’s quarterly reviews will likely drop below 200 from 316 in the fourth quarter of 2021, the central bank said in a statement Thursday. At the peak in the third quarter of 2019, there were 649 banks listed in the category, according to the statement.