PBOC Warns of Finance ‘Involution,’ Reaffirms Risk Control Focus

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PBOC Warns of Finance ‘Involution,’ Reaffirms Risk Control Focus China’s central bank and foreign‑exchange regulator reiterated the need to curb excessive — or “involution‑style” — competition within the country’s finance industry, framing it as a governance and discipline concern. PBOC Governor Pan Gongsheng highlighted the role of internal oversight, compliance and performance standards in addressing excessive or distorted competition, according to a statement from the central bank on Saturday following an internal meeting.