The global economic recovery is likely to be slow and tortuous and China faces risks from a multitude of factors including trade protectionism and bad real estate loans, China's Banking Regulatory Commission (CBRC) said on Tuesday.

Cataloguing the risks faced by Chinese banks in its annual report, the CBRC said identified quite large risks from unwise lending to local government investment units, as well as the sovereign debt crisis and U.S. dollar exchange rates. (Reporting by Chris Buckley and Tom Miles; Editing by Ken Wills)