Financial regulators to minimise systemic risks

BEIJING - China's major financial regulators highlighted the necessity to curb systemic risks and maintain financial stability by all means in 2012 on Sunday, one day after the National Financial Work Conference concluded.

"We will strengthen the monitor over financial institutions while tracking domestic and international economic situation, to effectively counter economic and financial risks," said People's Bank of China (PBC), the central bank, in a statement after its annual work meeting ended.

It said it would research specific measures to reduce systemic risks among financial institutions and gear up to set up a deposit insurance system to serve the purpose.