China Regulator Warns AI Investment Boom Crowds Out Traditional Industries
00:00/00:00
Listen to this article
1x
Subscribe now
Listen to the full version
Listen to the full version
Xiao Yuanqi speaks at the Global Financial Leaders’ Investment Summit in Hong Kong on Nov. 3. Photo: Wang Xiaoqing/Caixin
Excessive global investment in AI is driving up borrowing costs for traditional industries and crowding them out of financing, a senior Chinese financial regulator warned Tuesday.
Xiao Yuanqi, a vice minister of the National Financial Regulatory Administration, made the remarks at the Global Financial Leaders’ Investment Summit in Hong Kong.
He warned that massive capital inflows into technology companies are pushing up leverage levels and could fuel excessive expansion.
You've accessed an article available only to subscribers
VIEW OPTIONS
Unlock exclusive discounts with a Caixin group subscription — ideal for teams and organizations.
Subscribe to both Caixin Global and Bloomberg - for the price of one.
- RELATED
Share this article
Open WeChat and scan the QR code
Sign in with Google
Sign in with Facebook
Sign in with 财新