economy - Bankers expect brakes to work against overheating

International bankers, gathering under the umbrella of the Institute of International Finance, expect that the efforts of the Chinese government to slow down its breathtaking economic growth will in the end work, although the effects were not yet visible today, leading to speculations on a further unsustainable growth rate.
Only today the official figure for China's economic growth in the first quarter was fixed on 9.7 percent.
The current turn against Chinese IPO's was qualified by Victor Chu, Chairman and CEO of the First Eastern Investment group as a "premium" on earlier euphoria. He saw that China had achieved much in improving its corporate governance, he said. "Maybe not on a day to day basis, but over 5, 7, ten years time, much has been achieved."
The IIF has 330 members in international finance, 50 of whom are based in Asia. With the important changes in China, the organization hopes more Chinese banks will also join the organization.