First half GDP figures aside, disappointing data across manufacturing, trade, and, of course, equities performance spurred a search for new growth models and drivers. Trade and industrial policy are due for reconfiguration, while central agencies embrace once-threatening Internet finance as key to unlocking rural consumption and bankroll marginalised entrepreneurs. As the closed-door Party conclave at Beidaihe approached, the stock market slump took top leadership into damage control mode. The A-shares market should easily have handled the correction; why make such a meal of what really called for a display of calm? Use of the Public Security Bureau to crack down on market manipulation steered blame away from the regulators, framing the issue as political, not economic.
July: correcting ambitions
July: correcting ambitions
July: correcting ambitions
First half GDP figures aside, disappointing data across manufacturing, trade, and, of course, equities performance spurred a search for new growth models and drivers. Trade and industrial policy are due for reconfiguration, while central agencies embrace once-threatening Internet finance as key to unlocking rural consumption and bankroll marginalised entrepreneurs. As the closed-door Party conclave at Beidaihe approached, the stock market slump took top leadership into damage control mode. The A-shares market should easily have handled the correction; why make such a meal of what really called for a display of calm? Use of the Public Security Bureau to crack down on market manipulation steered blame away from the regulators, framing the issue as political, not economic.