Xiongan: A New City for the Xi Jinping Era


Building a model city has a long tradition among China’s reform-era leaders. Shenzhen’s rise from fishing village to manufacturing powerhouse is forever connected with the name Deng Xiaoping. Jiang Zemin tied his legacy to the development of Shanghai’s Pudong District into China’s leading financial center. Now Xi Jinping aims to connect his name with Xiongan, a sustainable and smartly planned parallel city right next to Beijing.

Regulating a bubble: why it’s so hard to crack down on shadow banking in China


Under its new chairman Guo Shuqing, the China Banking Regulatory Commission (CRBC) has rolled out a series of measures to slow down the rapid rise of China’s shadow banking assets. The concern is that these unregulated assets could trigger a financial panic. But a sudden reduction in shadow banking assets could actually cause, rather than prevent, a financial panic and it could also trigger a substantial reduction of growth.

Twenty years after handover, Hong Kong struggles for its identity

Three months after Hong Kong’s handover in 1997, Hong Kong’s first Chief Executive Tung Chee-hwa said, rather naively, “the Chinese in Hong Kong should be proud of being Chinese. I earnestly hope that our youths will develop a sense of patriotism and nationalism through familiarizing with the culture of our motherland.” Such hopes have been dashed. Today many Hong Kong citizens do not, and have no wish to, identify with the Chinese mainland.

China and the SCO: India and Pakistan’s accession is major gain for Beijing


The Shanghai Cooperation Organization’s (SCO) recent decision to accept India and Pakistan as full members is a major gain for the organization’s most powerful member China. The SCO members represent 40 percent of the world’s population and generate 20 percent of global GDP, and it now stretches across a large part of the strategically critical Eurasia-South Asia landmass.