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Chinese financial regulators have been able to steer China through choppy financial waters, including in 1997 and 2008. Where does China get the strength? Zhu Min, the chairman of The National Institute of Financial Research at Tsinghua University, tells CGTN anchor Tian Wei that China's resilience is due to two reasons. First, many big banks are state-owned. State credit makes things very different. Second, big financial institutions are quite safe and strong, while a lot of small regional banks are vulnerable to bad loans, which makes them risky. But China can move central resources to meet local needs. This nips in the bud any potential financial crisis.
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Copyright © 2023 CGTN. 京ICP备16065310号
Disinformation report hotline: 010-85061466