Treasury Secretary Janet Yellen ended her week-long trip to China on Tuesday, saying the US had been able to ‘move the ball’ on key issues, while analysts said the visit had focused on ‘practical short-term issues’.
China's new "economic tsar" He Lifeng is emerging as one of President Xi Jinping's most powerful lieutenants, but some sources say he is yet to gain the standing of his predecessor in financial markets and the diplomat community. He, 68, replaced internationally respected Liu He as one of China's four vice premiers during its annual parliament session in March. The full scope of his portfolio had been largely unclear until Sunday when state media referred to him as the director of a powerful Com
China's economy tsar He Lifeng has been appointed director of a key ruling Communist Party economic body, matching his high-profile predecessor Liu He with a particularly powerful portfolio covering economic policy, the financial sector and trade ties with Washington. He, who had previously headed the state planning agency, became one of China's four vice premiers in March when he replaced Liu He, who retired. He has now also replaced Liu as director of the office of the Central Finance and Economic Affairs Commission, a party body headed by President Xi Jinping.
Banks hold enormous amounts of real estate debt, and regulators are nervous. But a fast-moving crisis is unlikely because the government has extensive control of the system.