央行金融稳定报告：9个省区市辖内无“红区”银行

Core Viewpoint - The People's Bank of China (PBOC) released the "China Financial Stability Report (2025)", projecting a GDP of 134.91 trillion yuan for 2024, with a growth rate of 5.0% amidst a challenging external environment [1][2]. Economic Outlook - The report indicates that employment and prices will remain stable, with international payments balanced and foreign exchange reserves stable at over 3.2 trillion USD [1]. - The focus on new productive forces and key areas such as green and technology sectors will see enhanced financial support, contributing to orderly risk resolution in these sectors [1]. Policy Directions - The report outlines a policy direction to promote long-term capital investment in the stock market, with various regulatory bodies collaborating to improve the investment environment for long-term funds [1][7]. - The aim is to significantly increase the scale and proportion of long-term capital investments in A-shares, fostering a virtuous cycle between capital market stability and high-quality economic development [7]. Risk Management - The financial system will continue to prevent and resolve risks in key areas, including managing the debt risks of financing platforms and addressing risks in small and medium-sized financial institutions [2][11]. - The PBOC's rating of 3,529 banks shows that the overall financial risk is controllable, with a significant reduction in the number of high-risk small banks [2][4]. Bank Ratings - Among the rated banks, 3,217 are classified as low to moderate risk (levels 1-7), accounting for 98% of total assets, with 1,831 banks in the green zone holding 421 trillion yuan in assets [4][5]. - The report highlights that national banks are stable and serve as a "ballast" for the financial system, while local banks show varied performance [5]. Future Financial Strategies - The PBOC plans to enhance the macro-prudential management framework and strengthen monitoring of systemic financial risks [11]. - The report emphasizes the importance of maintaining liquidity and supporting stable economic growth while managing inflation expectations [10].