People's Bank of China Governor Pan Gongsheng: Maintain high-pressure efforts to crack down on illegal financial activities such as virtual currency speculation

Gate News: On March 8, during a press conference on the economy at the Fourth Session of the 14th National People’s Congress, Pan Gongsheng, Governor of the People’s Bank of China, stated that over the past year, financial risks in key areas have been orderly resolved, and the operation of the financial system and financial markets has remained stable, with risks in key areas continuing to converge. The People’s Bank of China, together with relevant departments, maintains a high-pressure crackdown on illegal financial activities such as illegal fundraising, virtual currency trading and speculation, and underground banks. Moving forward, the People’s Bank of China will orderly resolve risks in key areas to prevent financial risks and maintain financial stability. It will work with industry regulators and law enforcement agencies such as public security to continue high-pressure crackdowns on illegal financial activities, closely monitor and assess the impact of external shocks, and use macroprudential and financial stability policy tools to timely weaken or block risk contagion.