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China’s $40 Trillion Man Has the Toughest Job in Global Finance
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China’s $40 Trillion Man Has the Toughest Job in Global Finance

As banking regulator, Guo Shuqing is tasked with eliminating excess risks without stifling growth.

Bloomberg Markets
Bloomberg, 2019
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9

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  • Eye Opening
  • Overview
  • Background

Recommendation

In 2017, people were amazed when China’s top bank regulator, Guo Shuqing, announced that he would resign if he couldn’t stem the excesses in China’s massive banking system. This accountability just isn’t the sort of thing that prominent Chinese government officials routinely accept. But as the leader of the $40 trillion complex that comprises China’s markets and financial institutions, Guo is faced with a titanic task, especially at a time of economic uncertainty and political unrest. This informative article from Bloomberg sheds light on the world’s largest, and least known, financial system.

Take-Aways

  • China’s chief bank regulator has pledged to cut the surfeit of government backstops on savings and investments.
  • Guo Shuqing grew up during Mao Zedong’s regime, and he went on to become China’s biggest advocate for financial reform.
  • Guo is paying close attention to small banks.

About the Author

Bloomberg delivers business and markets news, data, analysis and video through Businessweek and Bloomberg News.

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