China's economy is going through a "period of pain" as authorities try to shift it toward slower, more sustainable growth, with the rapid expansion of its shadow banking sector a major problem, the vice finance minister said on Saturday. Zhu reiterated President Xi Jinping's catchphrase of a "new normal" for the Chinese economy, saying it would be "running at relatively high speed instead of super high speed."
"We are changing gear and our economic structure is undergoing a period of pain and a period where we are absorbing the large-scale stimulus packages we rolled out earlier," he said.

Hace cinco años, el G-20 prometió eliminar progresivamente las “subvenciones de combustibles fósiles ineficientes”, como parte de una estrategia más amplia para luchar contra el cambio climático y, sin embargo, las subvenciones han seguido aumentando. A escala mundial, se gastan unos 600.000 millones de dólares para apoyar la energía con un elevado índice de carbono, frente a los 90.000 millones de dólares que se asignan a la energía limpia.