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Net FDI flows have shifted as state banks recycle surplus, Michael Pettis notes

Net FDI flows have shifted as state banks recycle surplus, Michael Pettis notes
Net FDI shift to state banks

Michael Pettis relays an analysis by Setser indicating that net foreign direct investment (FDI) flows are no longer the main offset to the much larger reported current account surplus. Instead, the recycling of surplus funds via state banks has returned as a primary mechanism.

This development may signal a shift in how surplus balances are managed within the financial account, according to the expert's observations.

Pettis has previously reported on calls for a higher China GDP target, with concerns that a 4.5-5.0 percent range could contribute to worsening debt and deflation debate. In an earlier update, he covered the launch of a $1 trillion national venture capital guidance fund aimed at supporting tech innovation in China initiative. These measures come as officials weigh options to stimulate economic growth.

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