China Banking Regulatory Commission chief Guo Shuqing. Photo: Reuters/Bobby Yip

Despite continued signs of strong economic performance, Beijing is not letting its guard down regarding risk in the financial system.

On the whole, risk in the banking sector is under control, the country’s banking regulator said in statement late Friday, but the situation is still “serious and complicated.”

The financial sector still “faces a myriad of significant challenges,” the summary the national banking supervision and management meeting stressed. The meeting, held Thursday and Friday, outlines the agency’s goals for 2018.

Lowering corporate debt remains a top priority, the statement said, while policy makers also singled out financial holding companies and other high-risk institutions.

Restraining speculation in the property market was also cited as a priority.

The statement comes as officials continue to signal that oversight is set to tighten this year.

Leaders reiterated the priority of controlling financial sector risk at the Central Economic Work Conference held in December.