Five Takeaways From China's Weekend Meeting on Financial Regulation
- President Xi convened the twice-a-decade gathering July 14-15
- Support for the real economy, risk-prevention were emphasized
StanChart Says China's New Committee a Positive Step
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For investors, possibly the most important thing that happened in China during the weekend was a closed-door conference on regulation that could set the scene for the financial sector’s next five years.
Many details remain unclear. The most concrete decision out of the meeting so far is President Xi Jinping’s announcement of the creation of a cabinet-level committee to coordinate financial oversight - a task currently divided among four regulators including the People’s Bank of China.