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China ‘supply chain security, competitiveness’ under threat, central bank official

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China’s supply chains are under growing pressure amid increasing uncertainty in the global markets, a senior official from China’s central bank has warned.

“The impact of Covid-19 has sped up the shift in the global distribution of production,” Liu Guiping, deputy governor of the People’s Bank of China, told the Global Asset Management Forum in Beijing on Saturday.

“In addition to the influence of geopolitical contests, China’s industrial sectors are facing double pressure – industries moving into Southeast Asia and back to developed countries.

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