Haldane, who was previously one of the bank's heads of financial stability, said the vast scale of assets built up in investment funds and insurance companies posed a problem as it ebbed and flowed in and out of different asset classes, causing sharp falls and spikes in values.
At present, it could still increase the scale of its asset purchases.
The key sentence in its statement was: "The committee will continue to monitor the appropriate scale of the asset purchase programme and further purchases would be made should the outlook warrant them".
And it stressed that it was pausing, not stopping, QE: "The committee will continue to monitor the appropriate scale of the asset purchase programme and further purchases would be made should the outlook warrant them".
The record valuation of PetroChina and the huge gap between the prices in Shanghai and Hong Kong have highlighted the scale of an asset bubble in China as investors, restricted in moving money out of the country, plunge into the stock markets of Shanghai and Shenzhen.
"In addition, Athene has a strategic relationship with Apollo to leverage the scale of its asset management platform.
If all goes as hoped, we could end the purchase program sometime late this year.I think the Fed would like to see faster growth in employment, but the "substantial improvement" that would trigger a scaling back of asset purchases has more to do with sustained growth at close to the current pace.
The scale of trust assets still pales in comparison with total banking sector assets of more than 100 trillion renminbi as of the end of June.
Many people – particularly among the elite – had been aware of rumours about Wen's relatives, but the full detail of the report and the scale of their assets is striking.
