- China’s state financial Sector is preparing for unprecedented challenges in the year ahead
- This knowledge has forced state financial institutions to brace up for tough times as government tightens its grip
- Beijing has pledged to curtail excessive behavior among what it refers to as “financial elites” in the state sector
Executives employed in China’s state-owned financial institutions are preparing themselves for an exceptionally challenging period, characterized as “one of the most arduous years” they have encountered.
This is as the Chinese government had earlier announced plans to establish a new financial regulatory body bring control to the financial services industry.
