"Credit risk is a particular threat as clients come under increased liquidity pressures," said a report by global consultancy firm Boston Consulting Group, adding that deteriorating credit quality could increase pressure on profitability and regulatory capital.

In 2020, China's banking industry is expected to dispose of 3.4 trillion yuan worth of non-performing loans, a rise of 2.3 trillion yuan from last year, and the amount will continue to increase as some loans are delayed, according to Guo.

Facing challenges from asset quality, commercial banks across the country have raised loan loss reserve fund to 5 trillion yuan as of the end of second quarter, with provision coverage ratio at 182.4 percent.

"The level was far from the 150-percent regulatory red line, indicating relatively strong risk compensation capability of domestic banking industry," said Wen Bin, chief analyst at China Minsheng Bank.

Commercial banks should enhance efforts for the disposal of bad assets and intensify control on the production of such assets, according to Zhen Xinwei, a researcher with the International Monetary Institute of Renmin University.

Zhen suggested that all levels of government should maintain a sound financial ecology while adhering to market-oriented and law-based principles.

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