China's banks will see slower asset growth this year as regulators curb risk in the financial industry, said the chairman of China Zheshang Bank Co, one of the fastest-growing listed Chinese lenders.
Shen Renkang estimated asset growth for China's 21 national banks will be less than 10 percent this year, compared to an industry-wide 15.8 percent expansion last year.
Banks were feeling the impact of Beijing's campaign to reduce financial risk, which included reducing the opportunity for regulatory arbitrate and bolstering oversight of bank assets.
"For banks like us, in the adolescence of our growth, those changes bring relatively big pressure," Shen, a delegate to China's annual meeting of its national parliament, told Reuters on Tuesday.