Banking regulator urges nation's lenders to effectively control risks

China's banking regulator on Wednesday issued a notice vowing to address regulatory loopholes and urging the country's lenders to effectively control risks.

The move is the latest following a string of measures taken by the regulators to contain systemic risks and asset bubbles, an indication of tightening financial regulation in the country.

The China Banking Regulatory Commission said in the notice that it will strengthen supervision and address regulatory shortcomings to prevent practices that exploit regulatory loopholes.