Chen Zhilong: the Three ”Black Swan Events“ in the Banking Industry Warn Financial Security

Release time:2019-12-26Author: Chen Zhilong

Three “black swan events” occurred in the banking industry in 2019. With the deepening of the three critical battles and the increasingly urgent need for preventing financial risks, the three events in the banking industry brought comparatively small impact on the market due to the timely and rapid intervention of supervision. However, uncovering the deep-seated problems of these risk events, it has exposed some practical problems, such as imperfect corporate governance, extensive management behavior and serious insider control.The financial industry is a special industry which must be strictly managed. At present, the anti-corruption in finance is still under high pressure, the financial situation is still grim, and the rebound pressure on distressed assets is large. Financial corruption is directly related to the financial security, and the derived hidden dangers of "grey rhinoceros" and "black swan" are threatening the financial stability of China. Finance is the core of modern economy, and its risk has a sudden, infectious and accelerating amplification effect, which is very harmful.In the face of the complex and severe financial situation, we must prevent and defuse financial risks, putting it in an important position. Strong measures should be firmly held to forestall systemic risks.