‘China financial system will flip extra to native market’


China’s financial system will turn into extra depending on its home market even because it opens up additional for world commerce, former Chongqing mayor Huang Qifan mentioned on the annual Worldwide Finance Discussion board on Saturday.

International commerce accounted for 64% of China‘s financial system in 2006 and can progressively decline to about 25%, Huang mentioned on the assembly in Guangzhou. The home market will develop because the middle-income inhabitants will increase, he mentioned.

“The brand new construction led by the inner circulation does not imply involution or ‘mendacity flat’,” mentioned Huang, including that it could assist the nation in opening up the financial system.

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