hina Vice Fin Min Zhu Guangyao: Faced with challenges on economic slowdown; Outside world is more concerned with it than China govt - financial press
- Says: "We must pay close attention to the balance between moral hazard when we take action to make this risk abate, and at the same time we must avoid causing financial systematic turbulence."
- Believes local govts had sufficient assets to avoid default, but can no longer be allowed to keep borrowing through affiliated financing vehicles.
- China must reduce dire environmental pollution through channeling investment into green industries and improved environmental standards.
- Recent decline in CNY was part of an effort to liberalize China's capital markets and let the market determine the currency's value.