Pan Gongsheng: The regulation of non-bank financial institutions needs to be strengthened.

The Governor of the Central Bank, Pan Gongsheng, stated at the 2025 Lujiazui Forum that the regulation of non-bank intermediary institutions is still relatively weak. The proportion of non-bank intermediary institutions in global financing has significantly increased. The stability of this type of financing is weak, transparency is low, leverage levels continue to rise, and regulatory oversight needs to be strengthened.