Initiatives that are positive for the longer-run outlook for China - ANZ
|Analysts at ANZ explained that every five years, the Chinese leadership meet at the National Financial Conference to set policy direction.
Key Quotes:
"This year’s event deserves more attention as authorities focus on placing more emphasis on financial stability."
"Namely they are looking to deleverage state-owned firms and limit local government borrowing; expand the PBOC’s macro-prudential capabilities and increase co-ordination of financial regulation between different institutions with a new financial supervision committee."
"Such initiatives are positive for the longer-run outlook for China, but could make economic activity more volatile with authorities having reduced ability to respond to economic weakness through fresh credit-fuelled stimulus."
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