Date
21 August 2017

Market-driven financing needed for urbanization, paper says

People’s Bank of China deputy governor Pan Gongsheng {潘功勝} said a market-driven, regulated financing system is necessary to support the long-term capital needs of China’s urbanization program, China Securities Journal reported Wednesday. Debt issuance should be the responsibility of the local government that uses the money, not of a higher administration. Reliance on shadow banks should be minimized, the report quoted Pan as saying.

– Contact HKEJ at [email protected]

EL/AC/RA

 

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