A pedestrian wearing a protective mask walks past the People’s Bank of China building in Beijing on March 17. China suffered an even deeper slump than analysts feared at the start of the year as the coronavirus shuttered factories, shops and restaurants across the nation, underscoring the fallout now facing the global economy. Photo: Bloomberg A pedestrian wearing a protective mask walks past the People’s Bank of China building in Beijing on March 17. China suffered an even deeper slump than analysts feared at the start of the year as the coronavirus shuttered factories, shops and restaurants across the nation, underscoring the fallout now facing the global economy. Photo: Bloomberg
A pedestrian wearing a protective mask walks past the People’s Bank of China building in Beijing on March 17. China suffered an even deeper slump than analysts feared at the start of the year as the coronavirus shuttered factories, shops and restaurants across the nation, underscoring the fallout now facing the global economy. Photo: Bloomberg
Hao Zhou
Opinion

Opinion

The View by Hao Zhou

Why China is asking banks to sacrifice profits and tightening property sector controls

  • With limited policy room and a deeply leveraged economy, China’s central bank is pushing forward with new policy thinking, implementing targeted measures in specific sectors

A pedestrian wearing a protective mask walks past the People’s Bank of China building in Beijing on March 17. China suffered an even deeper slump than analysts feared at the start of the year as the coronavirus shuttered factories, shops and restaurants across the nation, underscoring the fallout now facing the global economy. Photo: Bloomberg A pedestrian wearing a protective mask walks past the People’s Bank of China building in Beijing on March 17. China suffered an even deeper slump than analysts feared at the start of the year as the coronavirus shuttered factories, shops and restaurants across the nation, underscoring the fallout now facing the global economy. Photo: Bloomberg
A pedestrian wearing a protective mask walks past the People’s Bank of China building in Beijing on March 17. China suffered an even deeper slump than analysts feared at the start of the year as the coronavirus shuttered factories, shops and restaurants across the nation, underscoring the fallout now facing the global economy. Photo: Bloomberg
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Hao Zhou

Hao Zhou

Hao Zhou currently serves as a senior economist (emerging markets) with Commerzbank. He covers North Asia economic and markets research.