CHINA-ECONOMY: FINANCIAL STABILITY AND DEVELOPMENT COMMITTEE (FSDC) MEETS ON MAY 4

Vice Premier Liu He presided over a meeting of the Financial Stability and Development Committee (FSDC) in Beijing on May 4. The meeting discussed ways to fight fraud as policymakers continue to pump stimulus into the economy. Beijing is looking to support ailing companies, but has struggled to ensure that funds and programs are used for their intended purpose. The group heard reports on:"The progress of supporting the economic recovery, accelerating reform and development of small and medium-sized banks, and cracking down on capital market fraud.” The financial officials  present at the meeting pledged to use all their available tools more aggressively and more effectively. They "called on all units of the financial committee to improve the macro plan, maintain reasonable and sufficient liquidity, improve the quality of policies, and pay close attention to the implementation of policies.” “The meeting stressed that it is necessary to resolutely safeguard the interests of investors and strictly enforce market discipline and 'zero tolerance' for fraud in the capital market.”





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