By Ratna Sahay and James P. Walsh
December 6, 2017
Version in عربي (Arabic), 中文(Chinese), Español (Spanish), Français (French), 日本語 (Japanese), Русский (Russian)
A man walks past a bank branch in Beijing: China’s leaders have made financial stability one of their top priorities (photo: Stephen Shaver/UPI/Newscom).
China’s leaders have made financial stability one of their top priorities. Given the size and importance of the Chinese market, with the world’s largest banks and second-largest stock market, that is welcome news for China and the world. The financial system permeates virtually all aspects of economic activity, having played a key role in facilitating rapid economic growth and in sharply reducing poverty rates.
China is moving from the world’s factory floor toward a more modern, consumer-driven economy. During this transition, however, some tensions have emerged in the financial sector. (more…)