Zhang Yichen: China can avoid financial systematic collapse
CGTN's World Insight
Zhang Yichen, a Chinese People's Political Consultative Conference (CPPCC) member and CEO of CITIC Capital Holdings, is famous for his recent acquisition of McDonald’s China in 2017. The new company is named Golden Arches in Chinese, and the name change has gone viral on the Internet.
"Since we have taken over the business that's holding all the McDonald’s restaurants in China, essentially we are the master franchisee for McDonald’s. So the company that we own cannot be called McDonald’s since it is not the majority shareholder. We are allowed to use the Chinese translation of ‘Golden Arches’ though, but in China it seems like a jewelry store."
Zhang said when the word of the name change got out he received free marketing on social networks. People made jokes about the name constantly and it has generated nine billion clicks on Weibo. 
As a veteran of the financial sector, China’s fight to reduce financial risks has to be his concern, but Zhang said China is capable of doing it.
"Financial risks have built up in the system, particularly the debt to GDP ratio. I think at the point is over 250 percent. The general view in the international investment community is that it is a very high risk. I have always taken a view that it is a risk we should watch out for, but fundamentally China is well equipped to deal with that risk, largely because the saving supporting that leverage is mainly domestic, and the leverage form is mostly bank loans rather than capital market, so it's much easier to control."
Zhang has also seen Chinese tech companies charging into his investment arena. How much of a player will these tech giants play?
"The tech companies are becoming a complementary force coming into the investment picture, as these companies represent a more strategic investment angle. I don't see a crisis for myself. No company is going to be big enough to cover all the economy otherwise we will have an anti-trust issue."
World Insight With Tian Wei is a 45-minute global affairs and debate show on CGTN. It airs weekdays at 10:15 p.m. BJT(1415GMT) with rebroadcasts at 4:15 a.m. BJT(20:15GMT).