News Snapshot:
So, what’s next for China, following the government’s crackdown on real estate? We all know that sectors currently in favour include priorities such as semiconductors, green energy and biosciences. But here’s the surprise: financial services, too, will be a big winner. In Chinese state capitalism, the winners and losers are chosen by the government at each stage of the country’s development. Right now, Beijing urgently needs to upgrade the nation’s capital markets. The current policy is to shift household savings away from property and redirect them into productive uses. But how can this be done? The bridge has to be...
