China's economy is 'booming,' but it's being held back by a lack of confidence, Standard Chartered CEO says

• China's economy is transitioning from an old to newer one, Standard Chartered Bill Winters told CNBC.
• The country's new economy is actually booming into double-digit growth rates, though confidence doesn't reflect this.
• China is letting the transition drag out to avoid financial system disruptions.

China's current burdens are evidence of a major economic transition that is being stretched out, and the country would benefit from a boost in confidence, Standard Chartered CEO Bill Winters said on Monday.