China’s top spy agency takes swipe at ‘some countries’ trying to disrupt financial system
- Ministry of State Security also vows to ‘proactively’ take part in protecting financial stability, monitor risks
- In social media post, it says some nations ‘regard the financial market as a tool for geopolitical games’
China’s top spy agency has pledged to “proactively” take part in protecting the country’s financial stability and closely monitor risks in the sector.
Xi’s remarks highlighted concerns in Beijing over the fragility of the financial system, particularly at a time of geopolitical turbulence and as the country grapples with a property crisis and ballooning local government debt.
Echoing his speech, the spy agency’s post said China must be “soberly aware” of the many risks and challenges to its financial security. It also accused “some countries” of using the global financial market to undermine China, in a veiled swipe at the United States.
“Some countries regard the financial market as a tool for geopolitical games, playing with their monetary hegemony repeatedly, and wielding the big stick of financial sanctions at others,” the ministry said.
“There are also some people with ulterior motives who try to stir up trouble and profit from the chaos. There are not only short sellers, but also people who spread bearish sentiment and help to steal China’s financial assets, trying to shake the international community’s investor confidence in China and triggering domestic financial turmoil in our country,” it said.
“This has brought new challenges to maintaining financial security under the new situation.”