The bank highlighted seven major tasks for 2020, including using monetary policy tools, such as a targeted reserve requirement ratio cut, re-lending and re-discounting to reduce financing costs and supporting financing for small and micro enterprises.
The biggest risk of fire arises in well-developed cities and in rural areas with less equipment, he said.
The benefits of people-to-people and cultural exchanges, however, are subsequent and consequent, and largely qualitative rather than quantitative.
The authorities also encourage financial institutions to support these projects, especially through bank loans and insurance funds. The measures demonstrated the government's incremental efforts to counter downside risks amid renewed trade uncertainty, supporting infrastructure investment in the coming months, according to economists.
The bank has developed its own measures and system for risk analysis and identification, highlighting the importance of family governance and the skills of small business owners, rather than corporate governance and collateral.
The balance of wealth management products also reduced by 1.9 trillion yuan since the beginning of rectification, with its year-on-year growth rate dropping to single digit as of June 30, according to the CBRC.
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The bank's spokesperson attributed the profit rise to the bank's efforts in business restructuring and risk control.
The author is a researcher at the International Trade and Economic Cooperation Institute of the Ministry of Commerce.