A Chinese flag flies in front of the Great Wall of China, located north of Beijing August 18, 2007. Photo: Reuters/David Gray

The central politburo of the Communist Party of China held a meeting on Monday to analyze and study the current economic situation, pointing out the direction of future economic work, Xinhua news agency reported.

Judging from the information revealed by the conference, preventing and resolving major risks, advancing reform, opening up the economy and promoting the healthy development of the market have become the main tasks for the next steps of financial development.

Wen Bin, chief researcher of China Minsheng Bank, said over the past few years, some financial institutions have pursued the maximization of their profits.

Keen to increase their leverage, they have expanded their business and carried out regulatory arbitrage, which has led to an increase in potential financial risks.

Thus, though the result of deleveraging is obvious and the overall risk is controllable, preventing relevant risks remains the top priority of financial work.

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