Source: CCTV.com
05-11-2009 18:02
The Asian Banker Summit 2009 has opened in Beijing. Bankers and financial experts got together to discuss solutions to problems the financial services industry faces in risk management.
The Asian Banker Summit 2009 has opened in Beijing. (cnstock.com Photo) |
With some stability returning to the industry after over six months of turmoil, experts are calling for a more regulated financial system.
The global financial crisis exposed the potential problems in the world's banking systems, as financial giants went bankrupt.
Participants at the summit agreed that a safety network is necessary for stabilizing the financial sector.
Senior management called for more attention to risk contorts.
Invesments in financial derivatives were behind much of the financial turmoil. Participants are calling on financial institutions to design products more prudently.
Colin Lawrence, Head of Prudent Risk of UK Financial Services Authority said "In new products design... need to be scrutinized... has to be consistent with risk appetite of the banks."
Economists also pointed out that although the problems arose inside banks, it's necessary to trace the origins to the real economy.
The annual performance reports of most Chinese banks have shown positive signs. They are the most profitable lenders in the world. But experts say Chinese banks need to keep an eye on the global market to avoid negative influences.
Latest figures show that long- and medium-term loans increased by nearly two trillion yuan in the first quarter, an increase of over 1 trillion year on year.
China's central bank has said the pick-up in bank lending is conducive to stablize the fianncial market directed lenders to improve credit quality to aviod bad loans.
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Editor:Xiong Qu