ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print

Return of financial reformer to Beijing a hopeful sign

Guo Shuqing well-suited to tame China's banking sector

| China
 (placeholder image)
Guo Shuqing, at his first news conference as China's new top banking regulator, on March 2.   © Reuters

Recent days have seen a flurry of activity, announcements and personnel changes by and among China's financial regulators. A coordinated plan to rein in problems with wealth management products and to better clarify the risks and responsibilities underlying them was soon followed by new chiefs for the commerce ministry and the National Development and Reform Commission.

Then came word, most significantly, of the return of reformer Guo Shuqing as chairman of the China Banking Regulatory Commission. If that wasn't enough, President Xi Jinping offered comments emphasizing the need to control financial risks, deal with zombie companies and push forward with financial reforms.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more