Reuters ReutersHONG KONG (Reuters Breakingviews) - President Xi Jinping may be forced to pick a side in the battle against bad debt. Anti-corruption inspectors are poking around the People’s Bank of China, according to a media report, as a concerted attack on the institution’s deleveraging campaign gains momentum. Officials, per anonymous sources quoted in the Wall Street Journal https://www.wsj.com/articles/beijing-reins-in-chinas-central-bank-11638981078?st=ramorq2v9giq80g&reflink=desktopwebshare_twitter, are bothered by alleged moves toward “independence” by the central bank. If Xi doesn’t have his central bankers’ back anymore, economic rebalancing may get put on hold for now. Follow @petesweeneypro https://twitter.com/petesweeneypro on TwitterCONTEXT NEWS- Inspectors from China’s anti-corruption agency have visited the People’s Bank of China in “recent weeks”, the Wall Street Journal reported on Dec. 8, citing unnamed sources.

Source: Wall Street Journal December 09, 2021 06:52 UTC