From the the South China Morning Post:
- Chinese government officials have become more sceptical about foreign banks’ research reports
- Avoiding senior economists at global banks, partly owing to growing mutual distrust over the scale and seriousness of the country’s debt problems
- Economic researchers and people working for state-owned media told the South China Morning Post the central government’s propaganda department had instructed senior editors at major official media outlets to be cautious about whom they invite to talk about China’s economy and what they might say about the problems and challenges facing the country after its long run of supercharged growth
“There’s no black list or white list, but it’s clear we are now being encouraged to invite economists and analysts with domestic securities firms and banks to talk about China’s economy, especially on live broadcasts” said one mainland media source
Also:
- other signs that economists at foreign banks have apparently lost favour in Beijing
- For example, the China Banking Regulatory Commission used to invite some economists from foreign banks to closed-door meetings about the development of the country’s banking industry… but since last year, such meetings have been significantly reduced
- Invitations are now being sent to only a small number of economists at foreign banks whom the CBRC considers trustworthy
“The general sentiment has clearly changed. The central bank and the regulators are more cautious about what they can tell you … I think it’s because the government now has more pressure on it, and some officials may even buy the conspiracy theory that some economists at foreign banks may have close ties with foreign governments so that what you tell them may quickly be passed on to those governments,” another economist said.
More: Beijing is giving foreign economists the cold shoulder
