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HARDtalk: Liu Mingkang, China's chief banking regulator

31/03/2008

Liu Mingkang, China's chief banking regulator

BBC News Channel - HARDtalk, Liu Mingkang, China's chief banking regulator

Liu Mingkang is former governor of the People's Bank of China and is now chief regulator.

Liu Mingkang is a former governor of the People's Bank of China and is now chief regulator. Why does he say that globalisation is a double-edged sword for China?

Stephen Sackur talks to Liu Mingkang, Chairman of the China Banking Regulatory Commission.

China's economy is undergoing a huge transformation and at the core of the changes is a profound overhaul of the country's financial system. Foreign banks are being allowed to enter the Chinese retail market, there is a booming consumer credit industry and the government is slowly relinquishing control. But there are also concerns about a massive trade surplus and the power being wielded by China's sovereign wealth funds. Liu Mingkang is a former governor of the People's Bank of China and is now China's chief banking regulator. Why does he say that globalisation is a double-edged sword for China?

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