Pan Gongsheng
Coverage of Pan Gongsheng in the Nexus archive.
- China further boosts Hong Kong’s role as offshore yuan hub
China’s central bank announced measures to expand Hong Kong’s role as an offshore yuan hub, allowing mainland institutions to purchase a net 800 billion yuan annually via the Southbound Bond Connect scheme, a 60% increase. The move aims to inject vitality into Hong Kong’s markets and support broader international use of the yuan.
- Higher forex, southbound investment to give ‘vitality’ to Hong Kong: PBOC chief
The PBOC chief stated that mainland China's foreign reserves will increase asset allocation in Hong Kong, providing momentum for its capital market. The Bond Connect scheme's annual net investment quota will be raised to 800 billion yuan.
- China Is Attached to a Doomed Economic Model
China's government-subsidized, export-driven economic model is destabilizing global markets by flooding them with cheap goods, causing job losses in countries like Germany and Indonesia. The model, led by President Xi Jinping, has created a record $1.2 trillion trade surplus but is undermining China's domestic economy through weak consumer spending and overinvestment in unprofitable industries.