Peter Thal Larsen
Peter is Asia Editor of Reuters Breakingviews, based in Hong Kong. He oversees coverage of financial services and regulation. Prior to joining Reuters, Peter spent 10 years at the Financial Times. From 2004 to 2009 he was the FT’s banking editor, leading the paper’s award-winning coverage of global banking during the credit crunch. Between 2000 and 2004 Peter reported for the FT from New York. He played a leading role in the paper’s coverage of the 9/11 attacks and their aftermath. A Dutch national, Peter has degrees from Bristol University and the London School of Economics. Follow Peter on Twitter @Peter_TL
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Premier Li Keqiang says GDP will grow about 7 pct this year. Though the lack of precision helps, the goal may still force the government into short-term stimulus or fudging the numbers. For all its progress, China is still not ready to scrap its big, reassuring objective.
Departing chief Peter Sands has ruled out a share issue while promising stronger capital this year and higher returns in future. That suggests the emerging market bank’s position is less bleak than some fear. However, it also leaves successor Bill Winters with less wiggle room.
Regulators in the former colony have spent five years tightening mortgage controls, but real estate prices are still rising. It’s a reminder not to expect too much from “macro-prudential” policies. Authorities can stop banks from lending too much. Deflating a bubble is trickier.
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