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ways to beef up capital strength at smaller banks Works Cited
and set up a long-term mechanism to prevent and
resolve risks. In one sign that authorities may be Bloomberg. “Analysis | How’s China’s Opening to
growing more concerned about downside risks the Financial Sector Going?” The Washington Post,
to the economy, China’s finance ministry said in WP Company, 12 Mar. 2019, www.washingtonpost.
late 2019 that it had ordered local governments com/business/hows-chinas-openingto-the-
to speed up the issuance of debt earmarked for financial-sector-going/2019/03/11/644b2302-
infrastructure projects. The move put a fresh 4479-11e9-94ab-d2dda3c0df52_story.html.
spotlight on the policy dilemma facing China’s
leaders: While such support measures may help Bloomberg. “China Financial Warning Signs
bolster economic and financial stability in the Are Flashing Almost Everywhere.” Bloomberg.
short term, the risk is that they lead to even bigger com, Bloomberg, 28 Nov. 2019, www.bloomberg.
debt problems down the line. Authorities have com/news/articles/2019-11-28/china-s-financial-
been trying “to bring discipline into the market, warning-signs-are-flashing-almost-everywhere.
but every time that happens, the consequences
become frightening so they back away,” said Bloomberg. “China Opens Up Financial Sector
Michael Pettis, a finance professor at Peking to More Foreign Investment.” Bloomberg.com,
University. “The longer you take to solve it, the Bloomberg, 20 July 2019, www.bloomberg.com/
more distorted the market becomes and the more news/articles/2019-07-20/china-vows-targeted-
painful the resolution becomes” (Bloomberg, measures-as-financial-stability-risks-rise.
Financial Warning).
Cheng, Evelyn. “China Talks up Opportunities
for Foreign Investors to Put Money in Its Financial
Sector.” CNBC, CNBC, 16 Oct. 2019, www.cnbc.
com/2019/10/16/china-opens-up-finance-
industry-to-foreigners-as-trade-war-with-us-
simmers.html.
Costa, Ana Nicolaci da. “China’s Economic
Slowdown: How Bad Is It?” BBC News, BBC, 26 Sept.
2019, www.bbc.com/news/business-49791721.
EY. China Further Opens up Financial Sector (VII).
Ernst & Young Global Limited, 1 May 2019, www.
ey.com/cn/en/industries/financial-services/ey-pov-
china-further-opens-up-financial-sector-vii.
Hu, Qimu. “China Moves to Further Open up
Financial Sector: Article.” Asia Times, Asia Times,
26 Oct. 2019, www.asiatimes.com/2019/10/article/
for-gord-china-to-further-lower-entry-threshold-
for-foreign-banking-and-insurance/.
Lewis, Ian K, et al. “China Announced ‘11
Measures’ to Further Open Up Its Financial
Sector: Perspectives & Events: Mayer Brown.”
Perspectives & Events, Mayer Brown, 25 July 2019,
www.mayerbrown.com/en/perspectives-events/
publications/2019/07/china-announced-11-
measures-to-further-open-up-its-financial-sector.
390
ways to beef up capital strength at smaller banks Works Cited
and set up a long-term mechanism to prevent and
resolve risks. In one sign that authorities may be Bloomberg. “Analysis | How’s China’s Opening to
growing more concerned about downside risks the Financial Sector Going?” The Washington Post,
to the economy, China’s finance ministry said in WP Company, 12 Mar. 2019, www.washingtonpost.
late 2019 that it had ordered local governments com/business/hows-chinas-openingto-the-
to speed up the issuance of debt earmarked for financial-sector-going/2019/03/11/644b2302-
infrastructure projects. The move put a fresh 4479-11e9-94ab-d2dda3c0df52_story.html.
spotlight on the policy dilemma facing China’s
leaders: While such support measures may help Bloomberg. “China Financial Warning Signs
bolster economic and financial stability in the Are Flashing Almost Everywhere.” Bloomberg.
short term, the risk is that they lead to even bigger com, Bloomberg, 28 Nov. 2019, www.bloomberg.
debt problems down the line. Authorities have com/news/articles/2019-11-28/china-s-financial-
been trying “to bring discipline into the market, warning-signs-are-flashing-almost-everywhere.
but every time that happens, the consequences
become frightening so they back away,” said Bloomberg. “China Opens Up Financial Sector
Michael Pettis, a finance professor at Peking to More Foreign Investment.” Bloomberg.com,
University. “The longer you take to solve it, the Bloomberg, 20 July 2019, www.bloomberg.com/
more distorted the market becomes and the more news/articles/2019-07-20/china-vows-targeted-
painful the resolution becomes” (Bloomberg, measures-as-financial-stability-risks-rise.
Financial Warning).
Cheng, Evelyn. “China Talks up Opportunities
for Foreign Investors to Put Money in Its Financial
Sector.” CNBC, CNBC, 16 Oct. 2019, www.cnbc.
com/2019/10/16/china-opens-up-finance-
industry-to-foreigners-as-trade-war-with-us-
simmers.html.
Costa, Ana Nicolaci da. “China’s Economic
Slowdown: How Bad Is It?” BBC News, BBC, 26 Sept.
2019, www.bbc.com/news/business-49791721.
EY. China Further Opens up Financial Sector (VII).
Ernst & Young Global Limited, 1 May 2019, www.
ey.com/cn/en/industries/financial-services/ey-pov-
china-further-opens-up-financial-sector-vii.
Hu, Qimu. “China Moves to Further Open up
Financial Sector: Article.” Asia Times, Asia Times,
26 Oct. 2019, www.asiatimes.com/2019/10/article/
for-gord-china-to-further-lower-entry-threshold-
for-foreign-banking-and-insurance/.
Lewis, Ian K, et al. “China Announced ‘11
Measures’ to Further Open Up Its Financial
Sector: Perspectives & Events: Mayer Brown.”
Perspectives & Events, Mayer Brown, 25 July 2019,
www.mayerbrown.com/en/perspectives-events/
publications/2019/07/china-announced-11-
measures-to-further-open-up-its-financial-sector.
390
