China to effectively prevent, defuse major economic, financial risks: report
Xinhua |
Updated: 2023-03-05 09:56
Share
Share - WeChat
BEIJING -- China should effectively prevent and defuse major economic and financial risks in 2023, according to a government work report submitted Sunday to the national legislature for deliberation.
The country needs to deepen reform of the financial system and improve financial regulation, said the report.
"We should ensure effective risk prevention and mitigation in high-quality, leading real estate enterprises, help them improve debt-to-asset ratios, and prevent unregulated expansion in the real estate market to promote stable development of the real estate sector," it said.
The country should also make efforts to prevent and defuse local government debt risks, according to the report.
- Storms claim five lives in Guangdong
- Dragon boat race sets stage for two months of cultural celebrations in Hainan
- 5 dead after being swept away in wild area of South China's Guangdong
- Yunnan's Gongshan plum yews: from adversity to thriving
- Over 1,000 martial arts practitioners compete in Tianjin competition
- East China's Fujian activates flood emergency response
