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China’s Financial Industry’s Value Added Too High - Expert

CHINA PRESS
MNI (BEIJING)
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China should address excessive value added in the financial sector to reduce financing costs for the real economy, said Li Yang, chairman of the National Finance and Development Laboratory. The manufacturing sector suffers from low profits, making it unreasonable for the financial industry to still make high amounts of money, Li added. Authorities need to reform finance to support SMEs and poverty alleviation, with a focus on medical and elderly care, Li continued. (Source: Yicai)

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China should address excessive value added in the financial sector to reduce financing costs for the real economy, said Li Yang, chairman of the National Finance and Development Laboratory. The manufacturing sector suffers from low profits, making it unreasonable for the financial industry to still make high amounts of money, Li added. Authorities need to reform finance to support SMEs and poverty alleviation, with a focus on medical and elderly care, Li continued. (Source: Yicai)