China's banks make risk control top priority

A majority of Chinese bankers see risk control as their top priority, according to a survey by the China Banking Association (CBA), released on Tuesday.

As growth slows, the banking sector has a better understanding of the need to prevent financial risk, according to the "Chinese Bankers Survey Report 2014".

Among the 1,100 bank executives surveyed, 65.5 percent saw "boosting risk control capability" as the top priority in their strategies, compared to 42.4 percent in 2011.

Ba Shusong, deputy head of the financial research institute at the State Council development research center, believes that risk awareness and risk management capabilities of China's bankers have increased significantly.

Risks stemming from the property market and elimination of overcapacity have caught the most attention, Ba said.

Adjusting the business structure, promoting unique businesses, making innovative financial products, and boosting capital management are also priorities, according to the survey.