An answer to financial crisis
By Xiao Gang | China Daily | Updated: 2013-03-23 08:01
Macro-prudential policy needed to dampen financial sector's pro-cyclicality features and help global economic recovery
As a part-time financial columnist for China Daily since August 2010, I am encouraged to provide monthly personal views to the newspaper even though I have moved to a new position.
At the just-concluded annual session of the National People's Congress, the Chinese government pledged a new policy for macro-prudential regulation. As a response to the global financial crisis, macro-prudential regulation policies have been established or planned in more and more countries over the past few years.
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