[Opinion] The Twin Pillars of China’s Financial Transformation

China’s Politburo meeting bolsters hope state will support troubled stock markets

In rare reference to the nation’s capital markets, Beijing policymakers underscore their role in maintaining resilient capital markets.

The Twin Pillars of China’s Financial Transformation

One of the Chinese central bank’s (PBOC) most vocal senior officials has highlighted the need for monetary policy reforms to give greater support to Beijing’s ambitions for driving the growth of China’s stock and bond markets.In recent opinion piece Sheng Songcheng (盛松成), formerly director-general of PBOC’s statistics department, says this support will not come in the form of interest rate cuts or quantitative easing to support China’s stock mar…