You are here

China's corruption watchdog finds no major problems with financial agencies

[BEIJING] China's central bank will maintain a prudent monetary policy and fend off financial risks, it said in a statement posted on the People's Bank of China (PBOC) website on Thursday.

China's corruption watchdog dicovered no major problems as it finished its inspection of the PBOC, the statement added. The inspectors identified minor issues, however, according to statements on the websites of multiple agencies.

The Central Commission for Discipline Inspection (CCDI), the ruling Communist Party's anti-corruption watchdog, finished inspections of 31 organisations, 21 financial agencies among them, state television and radio said.

Financial agencies investigated include the central bank, the foreign exchange regulator - the State Administration of Foreign Exchange - and the securities regulator - the China Securities Regulatory Commission (CSRC).

This round of inspections was closely watched by investors because of the power wielded by agencies such as the PBOC and SAFE, state radio said.