China’s likely search for a successor to Zhou Xiaochuan as central bank chief is spurring focus on the nation’s banking and securities regulators as the incoming Communist leadership overhauls top government positions.
China’s pension-fund chief proposed setting a trading range for the dollar as officials in the fastest-growing major economy fault the U.S. for adopting policies without regard for the American currency’s global role.
The U.S.’s so-called quantitative easing will have a negative impact on the global economy, Dai Xianglong, chairman of China’s National Council for Social Security Fund, said at a forum in Beijing today.
China’s national pension fund has won approval to invest in unlisted foreign companies, the Shanghai Securities News reported today, citing National Council for Social Security Fund Chairman Dai Xianglong.
President Barack Obama finds himself on the defensive as world leaders gather in Seoul for the Group of 20 summit, with members disparaging U.S. economic policies they say weaken the dollar and stoke hot-money flows.