However, in the process of accelerated economic development, some new problems such as over-investment and low-level duplicated constructions in certain sectors and regions as well as increasing bottlenecks seen in the supply of energy, transport and raw materials have also emerged. In the year of 2003, investment growth registered 26.7 percent, with the investment in steel, cement and aluminum sectors doubled.
And despite the launch of banking union, this trend is actually worsening: cross-border mergers and acquisitions accounted for just 9% of total transactions in 2016, against 15% for the period 2000 to 2015. The still-unfinished state of banking union is one reason why. Two factors make it difficult for banks to execute a European balance sheet strategy.