China ramps up financial risk control under new top regulator

China has focused on mitigating risks in its financial sector through strict regulatory measures. It implemented a year-long supervision of Z-Bank and announced the bankruptcy of Chongrong International Trust, marking the first such move in years to enhance the stability of the $60 trillion financial system. These steps come amid deteriorating asset quality and rising non-performing loans, with authorities opting to allow weak institutions to go bankrupt rather than rescuing them, while prioritizing depositors' protection and supporting the stability of the financial sector.

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