China’s entrenched favouritism challenges CSRC reforms

The process of gaining approval to list in China is open to corruption as a small number of officers have unchecked power over which applicants go first, economist says.

Minggao Shen leaves Caijing Magazine in Beijing to rejoin Citi in a newly created role as chief economist for Greater China.

The veteran China observer will head Citi's China research team as macro and policy developments on the mainland become increasingly critical to the investment decision-making process.

The former Bank of America executive has relocated from London to Shanghai.

Beijing steps up stimulus measures and reforms, as small firms suffer from a liquidity trap, and some foreign private equity firms leave China.

Slowing loans, M&A and ECM hit banks' fees last year. Technology, exports and bonds are bright spots, while Hong Kong is increasingly being seen as a place to raise foreign capital. PBOC's governor Pan Gongsheng wants a proactive policy approach.