The gloomy mood in China’s industry dropped at end of the week for the international stock exchanges. With the Communist government seeking to streamline and deregulate the financial sector foreclosure, Beijing is gradually losing the chain of the Chinese Market.
With growing concern for companies and business leaders with regards to the second largest economy in the world, due to the decreasing tension of the economic engine, China is looking forward to the next stage of its strategic reform program. Thus, Beijing is hoping to open the hitherto of the relatively foreclosed Chinese financial sector and internationalize its currency.
China’s economy although is still impressive if compared to the relatively meager GDP growth of other major economic powers such as America, Japan or Germany. But the 7.7 percent increase for the past year and the prospects for 2014 are noticeably below than what the emerging Asian nation has previously delivered. The past decades’ double-digit annual growth rates in China are not uncommon.
Having fired up the impressive numbers in the past through trade and direct investment, where the West, for example, supplied machines produced by China for American and European consumers. From this trimmed on the foreign trade business model, Beijing’s economic planning is very straight, which results in weaker growth numbers. New powers will now release the opening and modernization of the financial and banking system, if the rich of the world economy continues to put pulses in the usual strength.
Practitioners from banks and investment houses as well as government representatives have further discussed the outlook for the global economy, the recovery in the U.S. and Europe but their major concern is also the future role of China in the global economy.
The Hong Kong office is suitable for exchange between Asian and Western entrepreneurs and financiers like no other, because of the comparatively manageable coastal city docks the huge China brings to the world economy. The former British colony today have seven million inhabitants, who originally belong to the People’s Republic, but enjoys the status of a special administrative region with its own government, its own currency and its own laws. They are more liberal than in the communist motherland, so that the city-state is regarded as a business location with the world’s greatest freedom for entrepreneurs.
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