Tactical Warning : the new Chinese masters of money
As plan as one of the first steps in what is expected to be a major leadership change at the top of the Communist Party next year Beijing Saturday has changed the leadership of three of its financial regulatory agencies.
This is part of the changes for the leadership change and it is not at all related with the Chinese role in the EU fund.
- Shang Fulin, 60, is the new chairman of the powerful China Banking Regulatory
- Guo Shuqing,55, chairman of the China Construction Bank — one of China’s four big state-owned banks — was named to replace Mr. Shang as the nation’s top securities regulator
- Xiang Junbo, 54, resigned on Saturday as head of one of China’s other big state-owned banks, the Agricultural Bank of China. He was named Saturday as the chairman of the China Insurance Regulatory Commission, replacing Wu Dingfu.
All three have at least thy have three important elements in common :
a) they represent a new generation of leaders that neither known the cold war not Deng
b) all were are longtime government bureaucrats but also top managers of NSA´s and come from national industrial champions
c) They were appointed by the Communist Party Central Committee’s Organization Department and their skills inside the NSA´s world will strength the leadership of the Communist Party versus other forces and powers ,(I)
The change comes at a time of strong economic growth in China but continuing worries about soaring inflation, a depressed stock market and concerns that heavy lending by China’s biggest banks following the 2008 financial crisis is likely to lead to a huge number of nonperforming loans over the next three to five years and reduced export ,(II).
Prosumerzen Intelligence Team
Notes ( tags are also related to the articles in the notes !):