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Former Chinese finance minister Lou Jiwei attacks regulators for ‘failure’ to act over risk

Summary:
[unable to retrieve full-text content]China’s former finance minister Lou Jiwei has criticised the country’s financial regulators, saying they had ignored systemic risks.In a speech made at the China Wealth Management 50 Forum in Shenzhen on Sunday, Lou highlighted a number of regulatory failures in the supervision of banks and bond markets and warned the country’s mounting debt threatened the economy.He said the country’s central bank had not taken precautions against systemic risks, citing its handling of the collapse of Baoshang…

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[unable to retrieve full-text content]
China’s former finance minister Lou Jiwei has criticised the country’s financial regulators, saying they had ignored systemic risks.In a speech made at the China Wealth Management 50 Forum in Shenzhen on Sunday, Lou highlighted a number of regulatory failures in the supervision of banks and bond markets and warned the country’s mounting debt threatened the economy.He said the country’s central bank had not taken precautions against systemic risks, citing its handling of the collapse of Baoshang…

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