The bursting of the real estate bubble appears to be one of the main reasons for the banking industry’s current predicament.
The creation of the Central Financial Discipline Inspection and Supervision Working Commission represents the latest effort by the Xi leadership to more tightly regulate and control the financial sector and system in China.
Beijing opted for greater control over economic liberalization at the Third Plenum of the 20th Central Committee.
Read moreAt Third Plenum, CCP Opts for Political Control Over Economic Liberalization
The lackluster proposals and measures in the Decision are likely to further undermine domestic and foreign confidence in the CCP authorities’ ability to facilitate China’s economic recovery.
China’s growth prospects for 2024 are very bleak and could yet worsen.
Several factors likely led to NATO strengthening its language on China in the Washington summit declaration and the U.S. and its allies stepping up pressure against the PRC.
We believe that the Xi leadership’s attempts to mitigate financial risks are likely to exacerbate the local government debt crisis and may even create new financial risks.
By AFP The finances of some local authorities are stretched to the limit, after three years of astronomical spending to combat the Covid-19 pandemic, and above all a property crisis that has deprived them of a major source of income. The economic context is exacerbating their difficulties, according to analysts at SinoInsider, an American consultancy …
By The Economic Times The finances of some local authorities are stretched to the limit, after three years of astronomical spending to combat the Covid-19 pandemic, and above all a property crisis that has deprived them of a major source of income. The economic context is exacerbating their difficulties, according to analysts at SinoInsider, an …
Read moreET: Crisis & fears – What are the main obstacles to Chinese growth?
The CCP authorities’ plan to cap the salaries for financial workers at state-owned institutions and reclaim“excess pay” from past years appear to be in line with the Xi leadership’s move to strengthen the Party’s control over the financial sector