In 2017, people were amazed when China’s top bank regulator, Guo Shuqing, announced that he would resign if he couldn’t stem the excesses in China’s massive banking system. This accountability just isn’t the sort of thing that prominent Chinese government officials routinely accept. But as the leader of the $40 trillion complex that comprises China’s markets and financial institutions, Guo is faced with a titanic task, especially at a time of economic uncertainty and political unrest. This informative article from Bloomberg sheds light on the world’s largest, and least known, financial system.
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