China has tightened financial industry rules as it tries to halt a deepening sell-off in the world's second largest economy. Nearly $6tn has been wiped off Chinese and Hong Kong stocks over the past three years. Meanwhile a court in Hong Kong this week ordered the liquidation of debt-laden Chinese property giant Evergrande. Youth unemployment in China is thought to be around 20%. So, what’s the real state of China’s economy? Some analysts say a crackdown on commercial technology companies has harmed growth. Is it possible for the Chinese Communist Party to enjoy the benefits private enterprises can deliver, while still retaining the control it wants to have over the economy? Shaun Ley is joined by a panel of experts. Stewart Patterson - Co-founder of an investment management firm in Singapore, author of 'China trade and power: Why the West's Economic Engagement Has Failed' and research fellow at The Hinrich Foundation. Nancy Qian - Professor of Economics at Kellogg Business School, Northwestern University, Illinois Yu Jie - Senior research fellow on China in the Asia-Pacific Programme at the independent policy institute, Chatham House (Photo: A man sells food in his street booth in Shanghai. Credit: Alex Plavevski/EPA-EFE/Rex/Shutterstock)
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This week, China.
China's economy makes the headlines for all the wrong reasons.
The company that was once China's biggest property developer has been ordered to liquidate by Hong Kong's High Court.
Evergrande has liabilities of $300 billion.
This country wants more foreign investment and if these international creditors can't get access to these assets, I think yet again there'll be people questioning should I really be investing that much money in China?
Well, let's stay with China because the authorities are stepping up measures to try to stabilize financial markets.
From today, short selling is restricted.
Nearly about $6 trillion have been wiped.
Off Hong Kong and Chinese stocks in just the last three years since their peak.
For years since permitting private enterprise to flourish in the 1980s, Beijing has benefited from eye watering rates of growth.
It embraces market forces when it's advantageous but retains strict controls over winners and losers.
Economists are now asking can it continue to enjoy the best of both worlds?
China's economy is in desperate need of rebalancing.
It's had that massive period of growth over the last two, three decades from.