Chinese Finance Meeting’s Meager Results Reflect Nation’s Problems
BySHANGHAI — China’s top leaders have gathered every five years since 1997 for a National Financial Work Conference. At past gatherings, they have created entire regulatory agencies and rearranged the rules for huge markets, almost overnight.
So economists and regulators have been almost breathlessly speculating about this summer’s work conference. Would the regulatory commissions overseeing the banking, securities and insurance industries be merged into the central bank? Would the legal definition of securities be broadened to shed some regulatory daylight on widespread activities like shadow banking, peer-to-peer online investment networks and off-balance-sheet wealth management products?…
Chinese Finance Meeting’s Meager Results Reflect Nation’s Problems
