China's Warning to Market Economists: Toe the Party's Line
- CSRC chief tells executives to keep state’s interest in mind
- Senior economists at brokerages, fund firms signed agreement
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China’s Communist Party, beset by slowing growth, a trade war and a weak stock market, is taking steps to ensure that those who predict the economy’s direction for a living take the state’s interests into account.
In early November, Liu Shiyu, the head of the securities regulator, met in Beijing with representatives from more than 30 brokerages and fund firms. His message, according to people with knowledge of the matter: Economists should strive for higher-level thinking and take into account the interests of the Party and the country when publishing research, so as not to mislead market participants. Liu stopped short of urging economists to censor their research, the people said.