Date
18 October 2017

PBoC chief vows to keep eye on shadow banking, paper says

People’s Bank of China governor Zhou Xiaochuan {周小川} said that China will draw on international experience to keep tabs on China’s growing but still relatively small shadow banking sector, the China Securities Journal reported Monday. At the G20 meeting in Sydney on the weekend, Zhou also said the government will continue to fine-tune policy tools to improve the trade imbalance and advance structural reforms, adding that 7-8 percent GDP growth is not only good for China but makes global growth more sustainable. Zhou also called for the group to follow through on promised International Monetary Fund quota reforms that would give emerging counties like India, China, Brazil and Russia greater voting rights at the fund, the report said.

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