Golden Finance reported that Tao Ling, deputy governor of the central bank, said in an interview that in the next step, the People's Bank of China will earnestly implement the decisions and arrangements of the Party Central Committee and the State Council, effectively prevent and resolve financial risks, and keep the bottom line of no systemic financial risks. First, we will focus on promoting the construction of financial rule of law. As the legal basis for the entire process of preventing, resolving and handling financial risks, the draft of the Financial Stability Law has been reviewed for the first time by the Standing Committee of the National People's Congress in December 2022, and the People's Bank of China is fully cooperating with the legislative body to review it as soon as possible. The Anti-Money Laundering Law has been reviewed for the first time by the Standing Committee of the National People's Congress in April 2024. The revision of laws such as the People's Bank of China Law and the Commercial Bank Law is also being accelerated, which will provide strong legal guarantees for maintaining financial stability. Second, we will continue to improve the financial safety net. Adhere to the central bank's position as the lender of last resort, promote the strengthening of institutional supervision, behavioral supervision, functional supervision, continuous supervision, and penetrating supervision, and include all financial activities in the scope of financial supervision in accordance with the law, achieve full coverage of supervision, and build the "first line of defense" of the financial safety net. Promote the construction of a normalized risk disposal mechanism, implement the division of responsibilities for risk disposal, enrich and improve the risk disposal strategy and method system, improve the management system of the financial stability guarantee fund, and continue to play a good role in the deposit insurance mechanism. Third, we will strengthen financial risk monitoring and assessment. Based on marginal changes in the macroeconomic and financial situation, we will strengthen cross-cycle, cross-industry, cross-market and cross-border risk analysis, and improve the risk monitoring and early warning capabilities and levels. We will formulate macro-prudential policies, improve the policy toolbox, promote the overall sound operation of financial activities, financial institutions, financial markets and financial infrastructure, and promote the coordination and linkage of macro-prudential policies with monetary policies, credit policies, and micro-regulatory policies. (China Financial Times)