Between November 9 and 12, the much anticipated Third Plenary Session of the 18th Communist Party of China Central Committee was held in Beijing. This meeting brought together China's top political leaders to lay out a blueprint for China's broad economic and political reforms. High on the agenda was the topic of China's financial reforms. Leading up to the Plenary Session, Chen Long, professor of finance and associate dean of alumni affairs, had an interview with CCTV and gave his views on how reforms can affect China's financial landscape.
Between November 9 and 12, the much anticipated Third Plenary Session of the 18th Communist Party of China Central Committee was held in Beijing. This meeting brought together China’s top political leaders to lay out a blueprint for China’s broad economic and political reforms. High on the agenda was the topic of China’s financial reforms. Leading up to the Plenary Session, Chen Long, professor of finance and associate dean of alumni affairs, had an interview with CCTV and gave his views on how reforms can affect China’s financial landscape.
“I think the hardest thing will be opening up capital accounts [which enable Chinese people to invest overseas freely] and making the exchange rate flexible,” said Prof. Chen. “To achieve these, financial institutions need to be competitive.”
When asked about how the entrepreneurs who are among Chen’s students at the business school feel about the reforms, Prof. Chen stated, “Although sentiments were generally pessimistic in the first half of the year, things are now looking more positive. Other reforms such as the Shanghai Free Trade Zone have made many increasingly optimistic.”
Please find the full CCTV report at: http://english.cntv.cn/program/bizasia/20131105/105300.shtml
