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Letzte Aktualisierung: March 22, 2021

China's banks reduce risks

China has been home to the world's largest banks for several years. Time and again, there are warnings of excessive debt and an accumulation of bad loans. While Beijing has recently been criticized from within its own ranks, the US rating agency Fitch has given the all-clear. China has made significant progress in eliminating risks in recent years.

There are not many people in China as knowledgeable about the financial system as Lou Jiwei. After graduating, he began his career in 1984 at the Institute of Finance and Trade Economics of the Chinese Academy of Social Sciences. From 1992, he was deputy director of the Beijing Municipal Economic Reform Bureau and director of the State Economic Restructuring Commission. Later, he led the state-owned China Investment Corporation, the agency responsible for managing China's vast foreign exchange reserves, for years. From 2013 to 2016, Lou served as finance minister.
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