Part 4/6:
The context surrounding China's financial strategy has evolved since the global financial crisis of 2008. In the wake of this event, a critique of the financial sector emerged, gaining traction in China, particularly following the stock market crash of 2015. This shift in perception has led to a broader skepticism regarding the unchecked growth of the financial system. Consequently, the Xi administration has been more inclined to embrace a model that favors a robust state role in the economy.