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PBOC pledges to resolve financial risks amid economic slowdown, rising uncertainties

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Chinese central bank pledged to resolve outstanding financial risks, including dissolving risks posed by medium- and small-sized financial institutions, placing financial holding companies under regulation, countering risks from "abnormal" market fluctuations that stem from external shocks etc., amid economic headwinds and rising uncertainties.

"The financial market is highly sensitive to external shocks, the yuan's exchange rate and China's foreign exchange reserves remain under pressure," said the People's Bank of China (PBOC) in its . . .

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