China’s Xi Makes Unprecedented Visit to Central Bank as Chinese Developers Struggle With Insolvency

Headquarters of the People's Bank of China (PBOC), the central bank, is pictured in Beijing, China, on Dec. 13, 2021. Andrea Verdelli/Bloomberg via Getty Images

News Analysis

Chinese leader Xi Jinping paid his first-ever visit to the central bank on Oct. 24 since taking office in 2012. This unprecedented visit comes at a critical juncture as developers grapple with financial challenges and the nation faces a looming economic crisis, according to China observers.