A good balance should be struck between stable growth and risk prevention so that financing to the property sector can be provided steadily and orderly, Zhou Liang, vice-chairman of the China Banking and Insurance Regulatory Commission, said at the China International Finance Annual Forum 2022 on Friday.

While ensuring China's stable economic development, financial risks should be addressed orderly and safely, especially the risks confronted by small and medium-sized financial institutions. Local governments are encouraged to issue special bonds to supplement the capital for small and medium-sized banks, said Zhou.

Active measures should be taken to address the rebound in non-performing assets. The mechanism regarding risk monitoring and disposal tailor made for large corporations should also be optimized, he said.

Zhou also stressed that financing for the real estate market should be secured. Local governments are supported to ensure the delivery of residential buildings so that the property market can develop steadily and healthily and the daily life of local residents remains uninterrupted.

The financial risks in China have gradually shifted from the status of divergence to convergence, with a number of major risks precisely dismantled, added Zhou. Up to 12 trillion yuan ($1.7 trillion) of non-performing loans have been dealt with over the recent five years, which has outnumbered the total value of such loans grappled with in the previous 12 years.