Economics
China Sees Expansion Outweighing Yuan, Shadow Bank Risk
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China’s Finance Minister Lou Jiwei played down yuan declines and the risks from shadow banking as central bank Governor Zhou Xiaochuan signaled that the nation’s economy can sustain growth of between 7 percent and 8 percent.
Expansion prospects are suitable and can boost global economic growth, Zhou said. Possible defaults in some wealth-management products don’t reflect a “big problem” and yuan weakness this month is within a normal range, the finance minister said.