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☆ Can Trump use political donations to pay for legal defense?
▼ + stars: | 2023-08-01 | by ( Andrew Goudsward | ) www.reuters.com time to read: +4 min

Leadership PACs, such as Trump's Save America committee, raise money from donors to support political campaigns in the United States. The committees are set up and controlled by lawmakers or other political leaders, but are not connected to the candidate’s campaign. CAN LEADERSHIP PACS BE USED TO PAY LEGAL FEES? However, leadership PACs such as Save America also are not allowed to directly support their own candidate's campaign. A Trump spokesman said the legal payments were made in "accordance with the law and upon the advice of counsel."

Persons: Donald Trump, Amr Alfiky, Donald Trump's, Trump, Democrat Joe Biden, Richard Briffault, Andrew Goudsward, Jason Lange, David Bario, Matthew Lewis, Gerry Doyle Organizations: U.S, Trump National Golf Club, REUTERS, Former U.S, Trump, Leadership, Save, Congress, Federal, Commission, AMERICA, Republican, Save America PAC, Democrat, BE, Columbia Law School, Democratic, Thomson Locations: Bedminster , New Jersey, U.S, Former, United States, America, Washington

"It seems like they do a lot to try to make it seem like they are the party for young Black men or Black men as a whole, but they don't back it with anything. The vast majority of Black voters, including men, are still expected to choose Biden over a Republican. Black men and women under the age of 50 voted Republican in similar numbers, the poll showed. A Reuters/Ipsos poll conducted July 11-17 found 18% of Black Americans would pick Trump over Biden in a hypothetical matchup, compared to 46% who favored Biden, including about one in four Black men, compared to about one in seven Black women. Compared with Black women, Black men were more likely to say they would back a presidential candidate that supported abortion restrictions and increased police funding to fight crime.

Persons: Joe Biden, Biden, lurch, Mekonnen, Biden's, I'm, LeLann Evans, Evans, Michael McDonald, Republican Donald Trump's, Trump, Terrance Woodbury, Woodbury, Julian Silas, Silas, Kamala Harris, Jaime Harrison, Harris, Tracy King, Andre Russell, Trevor Hunnicutt, Jarrett Renshaw, Jason Lange, Eric Cox, Heather Timmons, Alistair Bell Organizations: . Army, White House, Democratic Party, Democratic, White, Reuters, U.S, Republican, Black, Biden, Nashville City Council, Democrats, Pew Research, University of Florida, Republicans, HIT, Edison Research, Federal Reserve, Democratic National Committee, Culture, NAACP, Thomson Locations: Georgia, Black, South Carolina, Philadelphia, Atlanta , Milwaukee, Detroit, Pennsylvania , Michigan, Washington, Chicago, U.S, New Orleans

☆ Explainer: Can Trump use political donations to pay for legal defense?
▼ + stars: | 2023-08-01 | by ( Andrew Goudsward | ) www.reuters.com time to read: +4 min

Leadership PACs, such as Trump's Save America committee, raise money from donors to support political campaigns in the United States. The committees are set up and controlled by lawmakers or other political leaders, but are not connected to the candidate’s campaign. Unlike super PACs, which can raise unlimited sums from companies, unions and individuals, individual donors may contribute no more than $5,000 a year to leadership PACs. CAN LEADERSHIP PACS BE USED TO PAY LEGAL FEES? However, leadership PACs such as Save America also are not allowed to directly support their own candidate's campaign.

☆ Xi appoints new chief of China's nuclear arsenal
▼ + stars: | 2023-07-31 | by ( ) www.reuters.com time to read: +1 min

Until his move to the PLA Rocket Force, Wang had been deputy commander of the navy since 2020. State media did not say where the PLA Rocket Force's previous chief, Li Yuchao, was reassigned or state his whereabouts. Xi has repeatedly urged the military to deepen war and combat planning to increase the chances of victory in actual combat to safeguard China's sovereignty and territory. China says it is committed to a defensive nuclear strategy, and pledges to no first use of nuclear weapons. It says it will also not use or threaten to use nuclear weapons against non-nuclear weapon states or nuclear weapon free zones.

Persons: Jason Lee, Xi Jinping, Wang Houbin, Xu Xisheng, Wang, Xu, Li Yuchao, Xi, Ryan Woo, Alex Richardson Organizations: Military, People's, REUTERS, People's Liberation Army, PLA Rocket Force, Navy, Southern Theatre Command, PLA, Thomson Locations: People's Republic of China, Beijing, China, BEIJING

July 27 (Reuters) - Royal Caribbean Group (RCL.N) raised its full-year profit forecast on Thursday, betting on higher ticket prices and resilient demand for leisure travel from affluent customers, sending shares surging. Royal Caribbean's shares were up 8.1% at $109.01 in premarket trading as it also forecast third-quarter adjusted profit above estimates. The company expects an adjusted profit between $3.38 and $3.48 per share in the third quarter, compared with estimates of $2.89 per share. Royal Caribbean expects annual adjusted profit between $6.00 and $6.20 per share, compared with its earlier forecast of $4.40 to $4.80 per share. Shares of rival operators Carnival Corp and Norwegian Cruise Line Holdings rallied in tandem following Royal Caribbean's results, gaining 5.2% and 4.7%, respectively.

Persons: Caribbean's, Jason Liberty, Granth, Shounak Dasgupta Organizations: Royal Caribbean Group, Royal Caribbean, Carnival Corp, Cruise Line Holdings, Thomson Locations: Royal Caribbean, Bengaluru

☆ Royal Caribbean CEO: Cruise bookings are substantially higher than pre-Covid
▼ + stars: | 2023-07-27 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRoyal Caribbean CEO: Cruise bookings are substantially higher than pre-CovidRoyal Caribbean CEO Jason Liberty and CNBC's Seema Mody join 'The Exchange' to discuss the rebound in cruise line bookings, the value gap between cruises and land-based travel, and capitalizing on onboard spending habits.

Persons: Jason Liberty, CNBC's Seema Mody Organizations: Royal Caribbean, Covid Royal Locations: Covid Royal Caribbean

☆ China VC slump is set to drag Asia-Pacific fundraising down to a decade low
▼ + stars: | 2023-07-27 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

Jason Lee | ReutersBEIJING — China-focused venture capital and other private investment funds have had a slow start to the year and are set to drag down Asia-Pacific fundraising to the lowest in 10 years. Alternative assets include venture capital, but not publicly traded stocks and bonds. watch nowChina-focused venture capital funds raised $2.7 billion in the second quarter, a drop of more than 50% from the first quarter, Preqin said. That dragged down overall VC fundraising in Asia-Pacific to $4.5 billion in the second quarter, the lowest in at least five years, the report said. In China, new rules for private investment funds are set to take effect Sept. 1, with a stated goal of "guiding" venture capital investment for long-term investment in "innovative startups."

Persons: Jason Lee, Angela Lai, Preqin, Andrew J, Sherman, Brown Rudnick, Lai Organizations: Reuters, U.S, D.C, CNBC, Partners Locations: Reuters BEIJING — China, Asia, Pacific, Preqin, China, U.S, Sherman , Washington, India, Japan

July 25 (Reuters) - The U.S. economy may ultimately skirt a recession, but it's felt like one for months at Jon Ferrando's 103 RV dealerships. "Our industry has always been a little challenged on forecasting around demand," said Jason Lippert, CEO of LCI Industries, a large supplier of parts to the RV industry that is also based in Elkhart. "If I was just looking at RV data, I would be screaming recession," said Michael Hicks, an economics professor at Ball State University in Indiana who tracks the industry, adding that pullbacks in RV shipments have signaled every U.S. recession since 1981. "We expect in the second half of this year shipments (of RVs) will start to increase again," Geraci said. Gregg Fore, an RV industry consultant who previously ran an RV parts supplier, said half the new inventory at some dealers he works with are 2022 models.

Persons: it's, Jon Ferrando's, Ferrando, Michael Happe, Eden, Jason Lippert, Michael Hicks, RVIA, Monika Geraci, Geraci, Gregg Fore, Tyler Hermon, Timothy Aeppel, Dan Burns, Paul Simao Organizations: Winnebago Industries, Federal Reserve, RV Industry Association, Thor Industries, LCI Industries, Ball State University, Dealers, Thomson Locations: U.S, Fort Lauderdale , Florida, RVs, United States, Elkhart , Indiana, Eden Prairie , Minnesota, Elkhart, Indiana, North America, RVing

☆ Hundreds of thousands of people fled Russia after it invaded Ukraine — and now the countries that took them in are seeing a boost in their economies
▼ + stars: | 2023-07-24 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

Scores of Russians fled their homeland following the outbreak of the Ukraine war. The growth of such countries surged in 2022 after the arrival of these Russians, per a new report. About six months later, there was another wave of departures after Russian President Vladimir Putin ordered a partial military mobilization for the Ukraine war on September 21. Armenia — once known as the Silicon Valley of the Soviet Union — saw its 2022 growth spike to 12.6%, per the World Bank. Meanwhile, Georgia's GDP jumped by 10.1% in 2022, per the World Bank, beating an 8.8% growth forecast.

Persons: —, Insider's Jason Lalljee, Vladimir Putin, Georgia —, Armenia —, Soviet Union —, Suren, Martin Galstyan, Oleg Itskhoki Organizations: Service, Reuters, Kremlin, Novaya Gazeta, World Bank, Bank, Armenian State University of Economics, Georgia's, University of California, Bloomberg Locations: Ukraine, Armenia, Georgia, Kyrgyzstan, Wall, Silicon, Russia, Caucasus, Azerbaijan, Soviet Union, IT, outpacing, Turkey, Kazakhstan

☆ White House regrets Kissinger had better access in Beijing than current US officials
▼ + stars: | 2023-07-20 | by ( Trevor Hunnicutt | ) www.reuters.com time to read: +3 min

REUTERS/Jason Lee/Pool/File PhotoWASHINGTON, July 20 (Reuters) - The White House on Thursday expressed regret that Henry Kissinger was able to get more of an audience in Beijing than some sitting U.S. officials, after the former top diplomat held talks in China. The White House said it was aware of the trip but that it was a private visit by a citizen. "It's unfortunate that a private citizen can meet with the defense minister and have a communication and the United States can't," said White House National Security Council spokesperson John Kirby. Kirby said that administration officials "look forward to hearing from Secretary Kissinger when he returns, to hear what he heard, what he learned, what he saw." U.S. presidential envoy John Kerry concluded lengthy talks with Beijing on fighting climate change on Wednesday and current Secretary of State Antony Blinken went to Beijing last month.

Persons: Henry Kissinger, Wang Yi, Jason Lee, Kissinger, Richard Nixon, Gerald Ford, Xi Jinping, Li Shangfu, Lloyd Austin, General Li, John Kirby, they're, miscalculations, Kirby, John Kerry, Antony Blinken, Joe Biden, Trevor Hunnicutt, David Brunnstrom, Jonathan Oatis Organizations: U.S, Foreign, of, People, REUTERS, WASHINGTON, U.S . Defense, White, National Security, Economic Cooperation, Thomson Locations: Beijing, China, Washington, U.S, United, Ukraine, Taiwan, New Delhi, Asia, San Francisco

☆ Teens are using social media to diagnose themselves with ADHD, autism and more. Parents are alarmed
▼ + stars: | 2023-07-20 | by ( Samantha Murphy Kelly | ) edition.cnn.com time to read: +13 min

But Coleman is one of nearly two dozen parents who told CNN that they are grappling with a different but related issue: teens using social media to diagnose themselves with mental health conditions. Some parents said social media has helped their teens get mental health information they’ve needed and has helped them feel less alone. According to Hamlet, social media companies should tweak algorithms to better detect when users are consuming too much content about a specific topic. Meanwhile, Mary Spadaro Daikos from upstate New York feels mixed about her daughter using social media for reasons related to her autism diagnosis. “She’s doing a lot of self-discovery right now in so many areas, and social media is a big part of that,” she said.

Persons: Erin Coleman, ” Coleman, doesn’t, Coleman, Julie Harper, Larry D, he’s, ”, it’s, Mitnaul, Larry Mitnaul, he's, Patricia Mitnaul “, I’m, that’s, Mislabeling, isn’t, Harper, “, they’ve, Alexandra Hamlet, Jason Lancaster, Liza Crenshaw, ” Crenshaw, Meta, Instagram, TikTok, Linden Taber, “ I’ve, …, Julie Fulcher, influencers, Mary Spadaro Daikos, Amanda Clendenen, Laura Young, she’s, ” Young Organizations: CNN, Social, Adobe Stock Social, US, Well Locations: “, Wichita , Kansas, Kentucky, New York City, Linden, Chattanooga , Tennessee, Raleigh , North Carolina, New York, Austin

☆ Jesse Jackson Turned the Civil-Rights Cause Into an Industry
▼ + stars: | 2023-07-19 | by ( Jason L. Riley | ) www.wsj.com time to read: +1 min

He is also a senior fellow at the Manhattan Institute and provides television commentary for various news outlets. Mr. Riley joined the paper in 1994 as a copy reader on the national news desk in New York. He moved to the editorial page in 1995, was named a senior editorial page writer in 2000, and became a member of the Editorial Board in 2005. He joined the Manhattan Institute in 2015. Born in Buffalo, New York, Mr. Riley earned a bachelor's degree in English from the State University of New York at Buffalo.

Persons: Jason Riley, Riley, ”, “, Thomas Sowell ” Organizations: Wall Street, Mobility, Manhattan Institute, Borders, Blacks, Editorial, State University of New, USA, Buffalo News Locations: New York, Buffalo , New York, State University of New York, Buffalo

Voters appear to be persuadable on some of those issues, the poll showed, while they are finding fault with Republicans for their efforts to restrict abortion. Both he and Trump supported the U.S. Supreme Court’s decision last year to end the nationwide right to abortion. Republicans were solidly against teaching gender issues in public schools, with 76% opposed, 20% in favor and the rest unsure. Independents were less decided, with 49% against teaching gender issues, 27% in support and 24% unsure. Seventy percent described teaching of gender issues in schools that way and 61% saw importance in the issue of transgender athletes in children's sports.

Persons: Joe Biden, Donald Trump, Ron DeSantis, Biden, Jacob Rubashkin, DeSantis, Trump, Rubashkin, Jason Lange, James Oliphant, Scott Malone, Matthew Lewis Organizations: Democratic, Republican, Reuters, Republicans, Biden, Florida, Elections, Trump, Democratic National Committee, U.S, Thomson Locations: Washington, Florida, U.S .

☆ Trump has 47% support among Republicans; DeSantis at 19% - Reuters/Ipsos
▼ + stars: | 2023-07-19 | by ( Jason Lange | ) www.reuters.com time to read: +2 min

WASHINGTON (Reuters) - Donald Trump is dominating the U.S. Republican presidential nomination contest with 47% support within his party, well above 19% for Florida Governor Ron DeSantis, according to a new Reuters/Ipsos poll. Slideshow ( 3 images )The seven-day poll completed on Monday showed Trump, who was president from 2017 to 2021, rising from a June Reuters/Ipsos poll when he was the pick of 43% of Republicans. Ramaswamy, who only had 3% support in a Reuters/Ipsos poll conducted in June, has been putting considerable sums of his own money toward promoting his candidacy. Neither Biden nor Trump were widely liked by people outside their parties. Still, Biden leads the Democratic contest by even more than Trump leads the Republican field, with 63% of Democrats’ support compared with 15% for anti-vaccine activist Robert F. Kennedy Jr.

Persons: Donald Trump, Florida Governor Ron DeSantis, Trump, Vivek Ramaswamy, Mike Pence, Ramaswamy, Joe Biden, Biden, Still, Robert F, Kennedy Jr Organizations: WASHINGTON, U.S, Republican, Florida Governor, Reuters, Democratic U.S, Trump, Biden, Democratic Locations: U.S

☆ Biden's election war chest trails Trump's in size, filings show
▼ + stars: | 2023-07-16 | by ( Jason Lange | ) www.reuters.com time to read: +2 min

The disclosures filed to the Federal Election Commission point to a competitive money race ahead of the November 2024 presidential election. Biden has amassed a smaller war chest to past presidents at this point in recent re-election campaigns. Democrat Barack Obama had $37 million at this point in 2011, while Trump had more over $56 million in June 2019. Biden's campaign announced on Friday that his re-election effort, when including the Democratic Party's accounts, had $77 million in the bank. Long-shot Republican candidates Doug Burgum and Vivek Ramaswamy disclosed putting millions of dollars of their own money into their campaigns.

Persons: Joe Biden's, Donald Trump, Biden, Barack Obama, Trump, Biden's, Robert F, Kennedy Jr, Marianne Williamson, Ron DeSantis, Tim Scott, DeSantis, Scott, Long, Doug Burgum, Vivek Ramaswamy, Ramaswamy, Jason Lange, Michael Perry Organizations: Federal, Democratic, Trump, Republican, Thomson Locations: Florida, U.S, South Carolina, North Dakota

☆ I dropped out of college and now make up to $5,000 a month as a 'meme lord'
▼ + stars: | 2023-07-16 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +4 min

Jason Levin dropped out of college and turned his content creator side-hustle into a full-time job. He now makes between $2,000 and $5,000 a month by making memes and copywriting for startups and VCs. The growth came mostly from writing Twitter threads on marketing case studies and by making funny memes. While I made about $75 in crypto from the first few memes, I'm now earning between $2,000 and $5,000 a month from between three to five clients. I'm proud to say I'm a "meme lord" now, getting paid to make memes and silly content for companies.

Persons: Jason Levin, weren't, that's, I've, it's, I'm Organizations: Service, Rutgers University, Twitter, Union Square Ventures Locations: Wall, Silicon, New Jersey

REUTERS/Jason Lee/File PhotoTAIPEI, July 14 (Reuters) - China's military has been flexing its muscles this week around Taiwan practicing joint force operations far out at sea, ahead of Taipei holding its annual war games at the end of the month when Taiwan will simulate breaking a Chinese blockade. Chieh Chung, a military researcher at Taiwan's National Policy Foundation think tank, said practicing long-distance missions was important for China as they would be the "main combat mode" in any conflict. "They are expanding military deterrence actions to create a cognitive effect that Taiwan's national defences are useless," the official said. China routinely denounces U.S. military activity in the strait as provocation. "The Eastern Theatre Command are well seasoned, but it's the Southern Theatre Command that needs training for long-distance support," Su said.

Persons: Jason Lee, Chieh Chung, Han Kuang, Tsai Ing, Kevin McCarthy, Xi Jinping, Su Tzu, yun, Su, Yimou Lee, Roger Tung, Yew Lun Tian, Ben Blanchard, Robert Birsel Organizations: Chinese Air Force, REUTERS, Foundation, Taiwan, House, Eastern Theatre Command, U.S . Navy, Institute for National Defence and Security Research, Southern Theatre Command, Thomson Locations: Beijing, TAIPEI, Taiwan, Taipei, China, Philippines, Japan, Borneo, Los Angeles

☆ China's central bank says consumer prices will likely drop in July
▼ + stars: | 2023-07-14 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

Jason Lee | ReutersBEIJING – China's consumer prices will likely decline in July before recovering, Liu Guoqiang, deputy governor of the People's Bank of China, told reporters Friday. Official measures of consumer prices have barely changed in the last several months amid tepid demand, in contrast to high inflation in the U.S. and Europe. watch nowThe central bank said in April consumer prices would likely see a "U-shaped" recovery this year. He described the real estate market as "stable" overall, but said that "some real estate companies' long-accumulated risks require a period of time to gradually absorb." He said that was out of "consideration of deep changes in the relationship between supply and demand in [China's] real estate market."

Persons: Jason Lee, Liu Guoqiang, Liu, Bruce Pang, Zou Lan, Zou Organizations: People's Bank of China, Reuters, People's Bank of Locations: Beijing, China, Reuters BEIJING, People's Bank of China, U.S, Europe, JLL

☆ Liberals Can’t Comprehend Black Economic Progress
▼ + stars: | 2023-07-12 | by ( Jason L. Riley | ) www.wsj.com time to read: +1 min

☆ China's auto group retracts pledge to avoid 'abnormal pricing'
▼ + stars: | 2023-07-08 | by ( ) www.reuters.com time to read: +1 min

[1/5] Cars drive on the road during the evening rush hour in Beijing, China, July 1, 2019. REUTERS/Jason Lee/File PhotoSHANGHAI, July 8 (Reuters) - The China Association of Auto Manufacturers (CAAM), citing antitrust law, on Saturday retracted a pledge to avoid "abnormal pricing" made two days earlier by 16 automakers, including Tesla. Thursday's CAAM-organised pledge by the companies, including Chinese electric vehicle (EV) makers Nio, Li Auto and Xpeng, had been interpreted by some as signalling a truce in a price war that has threatened industry-wide profitability. CAAM said it would urge the 16 companies and other association members to strictly comply with the antitrust law and compete fairly with independent pricing. Reporting by Zhang Yan and Brenda Goh; Editing by William MallardOur Standards: The Thomson Reuters Trust Principles.

Persons: Jason Lee, Thursday's, Li Auto, CAAM, Zhang Yan, Brenda Goh, William Mallard Organizations: REUTERS, China Association of Auto Manufacturers, Tesla, Elon, Ministry of Industry, Information Technology, Thomson Locations: Beijing, China, SHANGHAI

By comparison, Trump's main fundraising committee took in about $35 million in the second quarter even as the former president's legal troubles mounted, a sizeable increase from the previous quarter. “We are grateful for the investment so many Americans have made to get this country back on track," DeSantis' campaign manager, Generra Peck, said in a statement. The haul appeared to include just over $80 million that the committee received in May from a committee tied to DeSantis' re-election effort in the 2022 Florida gubernatorial campaign. MAGA Inc, the Trump counterpart to DeSantis' Never Back Down, has yet to disclose how much money it has raised this year. But last year it received $60 million from another committee tied to Trump.

Persons: Ron DeSantis, Donald Trump, Generra Peck, DeSantis, MAGA, Joe Biden, James Oliphant, Jason Lange, Ross Colvin, Alistair Bell Organizations: Republican, MAGA Inc, Trump, Thomson Locations: Florida

☆ Amid indictments, Trump's fundraising nearly doubled in second quarter
▼ + stars: | 2023-07-05 | by ( Jason Lange | ) www.reuters.com time to read: +2 min

WASHINGTON, July 5 (Reuters) - Republican presidential candidate Donald Trump's main fundraising committee raised more than $35 million during the April-June period, a campaign official said, nearly twice what the group gathered in the prior three months. The acceleration in fundraising could be a sign that Trump's 2024 campaign coffers are benefiting from the former president's legal problems. According to a Reuters/Ipsos poll conducted the day after Trump's federal indictment, a vast majority of Republicans believe those charges are politically motivated. The Trump campaign official, who spoke on condition of anonymity, did not provide further details on the second quarter fundraising, which was carried out by Trump's Save America Joint Fundraising Committee. The joint committee's most recent fundraising appeals disclose that 90% of the money it raises go to Trump's campaign, while the other 10% go to a separate group that helps fund Trump's legal expenses.

Persons: Donald Trump's, Trump, They're, they're, Ron DeSantis, Jason Lange, Ross Colvin, Jonathan Oatis Organizations: Republican, White House, Prosecutors, Reuters, Trump's Save, Thomson Locations: New York City, Florida

☆ Chinese automakers to take majority of home market for first time - forecast
▼ + stars: | 2023-07-05 | by ( ) www.reuters.com time to read: +3 min

It would represent the first time Chinese automakers have controlled a majority share of China's car market - the world's largest. For the past four decades, China's auto market has been dominated by established global brands such as VW and Toyota operating in joint ventures with Chinese partners. AlixPartners forecast China's overall auto sales would grow 3% this year to 24.9 million vehicles, recovering to the level of sales before COVID-19. Dyer forecast annual sales of Chinese-branded cars in overseas markets would grow to 9 million vehicles by 2030. China's market also faces massive overcapacity, and Dyer forecast a wave of consolidation.

Persons: Jason Lee, AlixPartners, Tesla, Stephen Dyer, Dyer, haven't, Zhang Yan, Kevin Krolicki, Devika Organizations: REUTERS, VW, Toyota, HK, Xpeng Motors, Thomson Locations: Beijing, China, Japan, U.S, Asia, Europe, South America, South East Asia, South Asia, Shanghai, Singapore

☆ Who Says Justice Thomas Benefited From Affirmative Action?
▼ + stars: | 2023-07-04 | by ( Jason L. Riley | ) www.wsj.com time to read: +1 min

☆ China's choice of PBOC party chief signals financial stability worries
▼ + stars: | 2023-07-04 | by ( Kevin Yao | ) www.reuters.com time to read: +5 min

The central bank did not immediately respond to Reuters' request for comment. Pan, central bank deputy governor since 2012 who turns 60 this month, is not expected to deviate from China's measured pace of policy easing to support the recovery, analysts said. "His professional ability will help safeguard the bottom line of systemic financial risks, especially as the property sector is slowing, and fend off a big systemic crisis." In an unexpected move, the ruling Communist Party appointed Pan as the central bank's party secretary on Saturday, taking over from Guo Shuqing. China has taken a series of steps this year to tighten party control over the country's vast, but largely closed, financial system, including plans to set up the Central Financial Commission to oversee the PBOC and other financial regulators.

Persons: Gongsheng, Jason Lee, Pan, Yi Gang, Gu Tianyong, Guo Shuqing, Yi, Yi's, Zhou Xiaochuan, Zhou, Xu Hongcai, Marius Zaharia, Jacqueline Wong Organizations: People's Bank of China, National People's Congress, REUTERS, outflows, Reuters, cryptocurrencies, prudential, Central University of Finance, Economics, Communist Party, Pan, Street, Cambridge University, Harvard University, Central Financial Commission, China Association of Policy, Thomson Locations: Beijing, China, BEIJING

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