The End of ‘GDP Worship’ in China?
To open China’s annual “Two Sessions” on Wednesday, Premier Li Keqiang delivered...
financial reform
Can China Control Bitcoin?
Despite a cyber attack on one exchange platform last month that robbed investors of millions in...
World Bank Forecasts Lowest China Growth in a Decade
The World Bank lowered its growth forecast for China to 7.7 percent on Monday, 0.5 percent below its April estimate, according to the China Daily: The World Bank also lowered China’s growth forecast in 2013 to 8.1 percent,...
Currency Agreement Signals Baby Steps
Japan and China announced a package of financial agreements during new Japanese Prime Minister Yoshihiko Noda’s visit to Beijing late last week, pacts that will ultimately give the yuan a greater role as an international...
Learn from Li Na
At Caixin Online, Huang Yiping argues for further reform and opening of China’s financial system, citing Li Na’s June 4th Grand Slam victory at the French Open as an unlikely model: Behind her advances were a series...
Disclosing Gov’t Expenses Helps Boost Public Supervision in China
Xinhua reports on the State Council’s on-going efforts to implement public fiscal reform: China started asking government departments at the central level to publicize their budgets beginning in 2009. Last year, 75 out of...
China’s Accelerating Financial Reform
From Financial Times: Since 2006, financial reforms in China have been stuck in a rut. But for a number of reasons – most simply because Beijing now has little choice – we are now convinced that financial reform is...
Wu Xiaoling: New Frontiers for China’s Financial Sector
Written by Wu Xiaoling, vice chairwoman of the Financial and Economic Committee of the National People’s Congress, from Caijing Magazine: Thirty years of economic reform set a course for the enormous achievements now...
Beijing to Set Out Finance Reform at Party Conclave – Richard McGregor
From Financial Times: China will set its priorities for finance reform for the next five years at a top-level party conclave next week expected to focus on rural banking and an enhanced role for the country’s largest financial holding company. The so-called finance work committee meeting, to be chaired by Wen Jiabao, the premier, has […]
China Has No `Immediate’ Plan to Raise Interest Rates – Bloomberg
From Bloomberg News: People’s Bank of China Governor Zhou Xiaochuan said he has no “immediate” plan to raise borrowing costs and will study the effects of April’s surprise increase before deciding whether to tighten more. “We are still monitoring the results of the last interest rate increase, and there won’t be any further measures immediately,” […]
A Golden Age for China’s Banks – Brian Bremner
From the BusinessWeek (link) Why are global players still buying up shares of mainland banks? It’s a long-term wager on the country’s financial system – and overall growth potential The global appetite for Chinese bank shares seems downright insatiable. On June 1, the Bank of China — the mainland’s second-biggest bank — will launch its […]
Agricultural Bank faces tough restructuring path – Beijing Time
From Beijing Times via China Economic Net (link) As three of China’s big four banks came under the spotlight with behemoth IPOs, the last remains saddled with non-performing loans and is still uncertain when restructuring will begin. A bail-out scheme for Agricultural Bank of China, the nation’s No.2 lender by assets, has yet to be […]
Regulator approves foreign bank branches in northeast China – Xinhua
From Xinhuanet (link) Sixteen foreign banks have received approval to offer financial services in northeast China, said the China Banking Regulatory Commission (CBRC) in a statement on Thursday. Nine banks have been allowed to set up branches and seven others have been given the green light to have representative offices in northeast China. The Hongkong-Shanghai […]
HK urges China to speed up financial reform – Tom Mitchell
From Financial Times (link) Hong Kong’s central banker on Thursday challenged his Chinese counterparts to increase the pace and scope of financial liberalisation, urging them to allow mainland investors to purchase Hong Kong securities and permit renminbi bond issuance in the territory. Wading into a previously internal Chinese debate about whether financial reforms have advanced […]
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