China regulator calls out international media for failing to credit Beijing’s economic-growth emphasis
- International investors need to judge Beijing’s commitment to economic growth for themselves, securities regulator tells finance summit
- Market-based reforms and opening up of the economy are fundamental, unchanged policies, vice-chairman of securities watchdog adds
Top Chinese securities officials urged international investors to come to China and see its determination towards growing the economy as they dismissed concerns over where economic growth ranks among the priorities of the country’s reshuffled leadership.
“A lot of media reports, I would put it this way, don’t understand China very well, and they have a short-term focus. I would otherwise invite the international investors to find out what’s really going on in China and what is the real intention of the government by themselves.”
The Hang Seng Index suffered its worst month since 2008 in October and has plunged 35 per cent this year, leaving its 73 members trading at a record 40 per cent discount to book value.
Liu Jin, the president of Bank of China, speaking during another summit panel on Wednesday, also asked investors not to put too much stock in negative news.
