After taking office in February, Guo Shuqing wasted no time in rattling some cages, declaring that as China’s financial sector’s newly empowered super-regulator he would tackle the 'chaos' in the domestic banking system.
We ask three leading economists to interpret what Guo was referring to by ‘chaos’ and why such seemingly aggressive moves are being made in the run up to the 19th Party Congress when “maintaining the importance of smooth and healthy economic development” is so clearly the government’s overriding focus.
While moves to “improve transparency and expose the finance hidden in the shadows” seem like a positive step, just how difficult is it to shrink a bubble while ensuring it doesn’t pop? Commentators will further discuss; the rationale behind the encouragement of debt-to-equity swap deals, and solving the inherent contradictions between introducing coherent financial policy and continued efforts to manipulate markets to meet political goals.
This event is off the record
Agenda
16:00-16:05 Welcome remarks by EU Chamber representative
16:05-17:25 Moderated panel discussion
- Michael Pettis, Professor of Finance, Peking University Guanghua School of Management
- Anne Stevenson-Yang, Co-founder, J Capital Research
- Chen Long, China Economist, Gavekal Dragonomics
- Tom Mitchell, Beijing Bureau Chief, Financial Times (moderator)
17:25-17:45 Audience Q&A
*Please note the views expressed in this event are those of our guest speaker and do not necessarily reflect the position of the European Union Chamber of Commerce in China.
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This event is off the record.
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