Pan Gongsheng: Continuously apply high pressure to combat illegal financial activities such as virtual currency speculation, with a focus on converging financial risks

PANews reported on March 7th that Pan Gongsheng, the Governor of the People's Bank of China, stated at the economic theme press conference of the Fourth Session of the 14th National People's Congress that, overall, in the past year, financial risks in key areas of China have been resolved in an orderly manner, the financial system and financial market have operated smoothly, and risks in key areas have continued to converge. The People's Bank of China, in conjunction with relevant departments, has maintained a high-pressure crackdown on illegal financial activities such as illegal fundraising, speculation in virtual currency trading, and underground banks. In the next steps, the People's Bank of China will orderly resolve risks in key areas to prevent financial risks and maintain financial stability, continue to carry out high-pressure crackdowns on illegal financial activities in collaboration with industry regulators and law enforcement departments such as public security, closely monitor and assess the impact of external shocks, and use macro-prudential and financial stability policy tools to timely weaken or block risk transmission