Yawen joined Reuters Breakingviews in Hong Kong in September 2020. Previously, she spent four years covering China’s economy for Reuters in Beijing, crunching economic data, interviewing high-level officials, and travelling to far-flung provinces to visit factory floors and talk to local shopkeepers. Before that, she spent nearly three years in Santiago, Chile, where she built a trade news website reporting on the produce industry – and developed Spanish as a third language alongside Mandarin Chinese and English.
Economic activity rose 4.9% last quarter on rising exports and consumption. But with cheap credit flowing into stocks and housing, good news may prompt policymakers to tap the brakes on stimulus. That risks worsening pre-existing economic imbalances that the pandemic aggravated.
President Xi Jinping will give the tech hub of Shenzhen more autonomy. Relaxed capital controls and other policy preferences will help it compete with Hong Kong for talent and investment. But blistering property prices are putting its innovation advantage at risk.
The investment bank leading Ant’s IPO is planning a $1 bln secondary listing in Shanghai. It could fund mergers as officials push industry consolidation and help fend off Wall Street rivals. Local peers are also angling for super-broker status, making more capital essential.