The “Made in China 2025” plan has seen more than USD$1 billion invested in artificial intelligence and strategic tech sectors since its launch in 2015.
The former CEO and co-chief investment officer of US investment giant PIMCO says that the Chinese economy is unlikely to meet with a Minsky Moment financial crash.
The head of the People’s Bank of China said that the Chinese economy could succumb to a “Minksy Moment” crash in asset prices if regulators fail to take greater pains to curb market excesses and debt.
China’s asset management sector saw surging growth in 2016, despite a modest decline in revenues and profit rates for the global sector.
One of China’s senior-most central bank and foreign exchange officials has reiterated the importance of opening up the country’s financial sector, while also flagging diminished intervention in exchange rates.
The Chinese central bank has taken one day liquidity injections via reverse repos to a month-long high via 300 billion yuan in sales.
China’s clout within the International Monetary Fund could increase following proposed changes to member funding quotas.
The chief economist of London’s Enodo Economics says that the Xi Jinping administration has failed to adequately address China’s onerous debt burden.
Sources close to the matter say that Guo Shuqing, the head of the China Banking Regulatory Commission is one of the top contenders to succeed Zhou Xiaochuan, head of the People’s Bank of China, when he vacates offices next year.
Multiple banks in the southern Chinese manufacturing hub of Shenzhen have suspended the provision of consumer loans due to concerns over their illicit use for speculative investment in the real estate market.