China’s financial regulators have long been suspicious of many things, but particularly foreign institutions. Their job appeared to be to say ‘no’ to anyone who applied for, say, an investment banking licence.
Those days, it seems, are gone. Over the course of five working days in November, legislators got more done than most US presidents achieve in an entire term in office.
Let’s start in Beijing with the central bank, which injected Rmb200 billion ($30.5 billion) into the banking system.
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