China 2049: How can we drive financial reform and innovation?

About This Source - CGTN

This story is an English language news item from CGTN. CGTN is a Chinese state-funded broadcaster. More from CGTN

China’s economy must transition to high-quality growth, driven by innovation. The question is how to spur innovation, which comes largely from the private sector? But bank loans favor state-owned enterprises; that’s why private companies, small and medium-sized, face a financing deficit. Other questions: How to transform the financial system to support private companies? Is FinTech a solution? How to encourage financial innovation while controlling financial risk?

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