6/11/2021 Guo Shuqing: Those Who Bet On Housing Prices Never Fall Will End Up Paying A Heavy Price

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On June 10th, Secretary of the Party Committee of the People’s Bank of China and Chairman of the China Banking and Insurance Regulatory Commission Guo Shuqing claimed at the 13th Lujiazui Forum, “From the perspective of a mature financial market, institutional investors are the main participants in derivative investments, which are very unsuitable for individual wealth management. Those who speculate on foreign exchange, gold and other commodities can hardly have the opportunities to make a fortune, just like betting on housing prices never fall will end up paying a heavy price.” This passage was excerpted when he emphasized financial risk control, which is also deemed one of the five biggest financial risks of Communist China.

Since housing price is one of few topics that ordinary Chinese people are most concerned about, his speech was quickly reported on the front page of China Financial News with various We-Media joining the interpretations and discussions.

Under Communist China’s bureaucracy, Guo Shuqing as the Secretary of the Party Committee of the People’s Bank of China is the No. 1 leader and final decision-maker of Communist China’s central bank, rather than the Governor of the People’s Bank of China Yi Gang, which is a completely different situation compared with Chairman Powell of the Federal Reserve of the United States. It is for this reason that Guo Shuqing’s speech exceptionally attracted the attention of Communist China’s financial professionals.

This time, Guo Shuqing’s talk about housing prices was made together with the speculation of foreign exchange, gold and commodities. Therefore, the focus of his speech was not for the apparent housing prices, but a warning to the speculation in Communist China’s real estate market.

By [G Translators-Financial Team]

Author: Jiantizi(简体字)

Translator: 唯有无我

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