The governor of China’s central bank sought to ease concerns on Thursday over the growing level of risk at troubled small banks in the country, following the first state takeover of a lender in 18 years.
Yi Gang of the People’s Bank of China, speaking at an event in Beijing, said the central bank was “fully capable” of managing risks at small banks, and that it planned to increase the supply of credit to small companies, according to local media and Bloomberg.
The remarks come just days after the central bank announced that regional lender Baoshang Bank would be taken over by the government for the next year in order to solve serious credit problems.
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