Bailout success may prompt Greece to issue new bond today
pulse” of the economy, and it was the sector’s “divine vocation” to serve the real economy, the official Xinhua news agency quoted Xi as saying.
Xi called for greater accountability for financial regulators at the meeting, saying it would be “negligence of duty” if regulators failed to identify risks in time, and it would be “malfeasance” if they failed to report and contain the identified risks.
The main financial regulators include the China Banking Regulatory Commission, the China Securities Regulatory Commission and China Insurance Regulatory Commission.
In 2015, a poorly coordinated response to a stock market crash in China spurred scrutiny on the government’s response. Premier Li Keqiang openly criticised financial regulators as not responding sufficiently.
Xi said on Saturday that regulators must share industry data within their jurisdictions and coordinate their financial regulations.
“Traditionally the (financial) conference is presided by the premier, but this time, not only was the big boss (Xi) there, people from the anti-corruption watchdog and the parliament advisory body were there, too,” said a person who follows Chinese regulatory developments. Reuters
said Larry Hu, head of China economics at Macquarie Group.
“We expect GDP growth to trend down in the second half of 2017 on slowing property sales and tight liquidity,” he said. ATHENS: Greece is expected to return to the bond markets next year, but having secured its third bailout programme, Athens may test the waters by issuing a new bond as early as today.
Greek newspapers have been speculating that a bond market test could come in “a matter of days”.
“Monday is probably the day even though nothing can be taken for granted,” said Avgi, the ruling Syriza party newspaper, on Saturday.
The conservative Kathimerini newspaper reported that Athens appeared willing to “take advantage of the current positive conjecture in the markets”.
It said markets were in a mood for taking risks right now and there were high levels of liquidity.
It seems to be a toss-up whether Athens will take the plunge or not.
“It is being discussed. Preparations are made for both scenarios and whatever happens we will be ready,” said a source with knowledge of the government’s plans on Friday. AFP
Traditionally the (financial) conference is presided by the premier, but this time, not only was the big boss (Xi) there, people from the anti-corruption watchdog and the parliament advisory body were there, too.
The economy is likely to face further headwinds as consumption also comes under pressure from slowing income growth, said Fan Zhang, senior China economist at RHB Bank. AFP