After tamping down on shadow banking in the last few years, China will now encourage such lending to boost growth, a Chinese economist said ahead of the country's annual parliamentary session.
After tamping down on shadow banking in the last few years, China will now likely encourage such lending to boost economic growth, a Chinese economist told CNBC on Monday ahead of the country's annual parliamentary session.
Shadow banking refers to activities performed by financial firms outside the formal banking sector, and therefore subject to lower levels of regulatory oversight and higher risks. Shadow banking is"coming back," Xiang said. In addition to spending more on infrastructure, Beijing will also need to stimulate the economy through lending, particularly to the private sector, he added.
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