Guo Shuqing of the CCB

economy - How China helped the US

China's industrial leaders not only have to follow a media training before their company goes for an international IPO, a few of them actually know how to use it. In an interview with the Financial Times, the chairman of the China Construction Bank, former Forex chief Guo Shuqing, explains how the US have benefitted from China's economic development.

"Our net capital outflow to the US is many times the capital inflow into China from the US." He said large purchases of US treasuries and other US-issued bonds by the Chinese central and commercial banks had "injected huge amounts of cheap capital into the US economy". "We have played a significant role in stabilising the financial market in the US. We have also offered cheap goods," Mr Guo added. "Without China's economic rise, we wouldn't see the current international inflation situation."

The China Construction Bank is the country's second largest lender and intends to go for an IPO estimated at US 5 billion dollars.