Chinese Dream: In the longer term, it continued, the Chinese Dream of rising prosperity and security championed by President Xi Jinping would be reflected in capital markets, creating huge investment opportunities, according to Euro News. The stock market turmoil in the last month has shattered that particular dream for many small-time players, though the risk of contagion from a relatively narrow class of retail investors who dominate Chinese equities appears small for now. Not only was the bull run just beginning, said a widely-read, and later ridiculed, editorial from the People Daily. Beijing had earlier stepped in to address the property boom and mounting bad debts, two potential danger zones in the economy, helping to bring down house prices and shift local government debt to longer term maturities to avert a crisis. Zhou Sujuan, a 44-year-old manager at a private medical device company in Wenzhou, a coastal city 450 km south of Shanghai known for its entrepreneurial spirit, lost 2 million yuan in the selloff. Now it must find ways to change economic gear from massive stimulus to consumer-led growth, and the slump in stocks has not helped.
(news.financializer.com). As
reported in the news.
Tagged under Chinese Dream, capital markets topics.