China's state council committee had a meeting on fending off financial risks
- Will broaden long-term and stable funding sources for capital markets
- Will speed up development of long-term supervision mechanism for internet finance
- Risks in internet lending are controllable overall
The same old message being touted by China of opening up the economy. Nothing we haven't heard before. But in the meantime, the continued focus on nullifying risks is a reminder that Chinese authorities are taking the clampdown in financial system rather seriously.
Credit tightening has been one of the obvious signs of that:
And that has seen smaller companies suffer a little bit - and that's also reflected in China's recent economic growth momentum.
