Titanium Media App reported on July 21 that Liu Zhongrui, head of the Statistical Information and Risk Monitoring Department of the China Banking and Insurance Regulatory Commission, said at a press conference of the State Council Information Office on July 21 that after unremitting efforts, the scale of my country's quasi-credit "shadow banking" is significantly higher than the historical peak. The pressure drop has exceeded 25 trillion yuan, and the momentum of brutal expansion has been curbed. By the end of June, interbank wealth management had dropped from over 6 trillion yuan at the peak to around 10 billion yuan. Trust loans decreased by 0.39 trillion yuan from the beginning of the year, and interbank investment in special-purpose vehicles maintained a downward trend. The progress of these work has been highly appraised by market institutions. Some international organizations believe that China's determination to reduce the risk of "shadow banking" has exceeded expectations, which has fundamentally maintained the stability of the financial system.
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