The vice governor of China's central bank Chen Yulu has said China's financial risks are rising and the supervision body will strengthen monitoring.

"Now there are increasing factors affecting China's financial stability. Credit risks of financial institutions are rising continuously. Cases related to Internet finance and illegal collection of savings have been disclosed frequently. The supervision should be strengthened effectively. Regulatory gaps and arbitrage should be removed. Those factors which could cause regional systemic risks should be taken into consideration in the framework of macro prudential policies to concretely keep the financial system stable,"  said Chen Yulu,Vice Governor,People's Bank of China.