Shadow banking is a major source of funding for smaller private firms in China that cannot get credit from traditional lenders. Photo: Reuters

China to ‘strike a balance’ between good and bad shadow bankers to halt fall in growth

  • Shadow banking refers to financial activities conducted by unregulated lending institutions or off-balance-sheet activities by traditional financial institutions
  • Wang Zhaoxing, vice-chairman of the China Banking and Insurance Regulatory Commission, considering ‘benefits the real economy’
Topic |   Two Sessions 2019 (Lianghui)

TOP PICKS

Shadow banking is a major source of funding for smaller private firms in China that cannot get credit from traditional lenders. Photo: Reuters
READ FULL ARTICLE
The Chinese government said it would try to achieve an economic growth rate between 6.0 to 6.5 per cent in 2019, a moderate slowdown from previous years, but nevertheless a much faster rate compared with other major economies. Photo: Xinhua

China’s GDP growth could be half of reported number, says US economist at prominent Chinese university

  • US economist Michael Pettis of Peking University says China gross domestic product is overestimated as bad debt is not written down
  • Best way to solve problem would be to transfer wealth from state sector to consumers, Pettis said
Topic |   China economy

TOP PICKS

The Chinese government said it would try to achieve an economic growth rate between 6.0 to 6.5 per cent in 2019, a moderate slowdown from previous years, but nevertheless a much faster rate compared with other major economies. Photo: Xinhua
READ FULL ARTICLE