Hints and tips:
...A few hundred billion yuan isn’t enough to boost confidence. We need at least Rmb1tn,” said a government adviser involved in designing the fund....
...“China has to depend on domestic demand,” said Zhiwei Zhang, president at Pinpoint Asset Management....
...untrained local officials and volunteers who have little or no legal authority “No matter how tense the situation, local governments cannot assume the powers of the nation’s highest institutions,” said Tong Zhiwei...
...This confirms our view that yuan weakness reflects trade war risks,” Ms Pang said....
...SO, also from Reuters with our emphasis: China’s leadership, obsessed with maintaining stability and making sure redundancies do not lead to unrest, will spend nearly 150 billion yuan ($23 billion) to cover...
...New yuan loans increased to CNY1,370bn (SG CNY1,200; cons. CNY1,100) and total social financing also delivered a solid print of CNY2,340bn (SG CNY1,500; cons. CNY1,400)....
...He confessed to getting badly bruised by the last big one – his portfolio of 500,000 yuan had swollen to 3 million yuan by 2007 at the peak of the market, before falling back to its original level....
...(Financial Times) But from Nomura’s Zhiwei Zhang: “We are not convinced the economy has passed a turning point and growth will recover from here....
...Here’s Nomura’s Zhiwei Zhang (emphasis ours): The trust product was launched by Zhongcheng Trust Company in 2010 and distributed by the Industrial and Commercial Bank of China....
...At the macro level, the People’s Bank of China withdrew nearly 100bn yuan from the interbank market in the past two weeks and as a result, the overnight repo rate is back above 4% and the 7-day rate close...
...FT Alphaville China yuan closes lower in thin trading – WSJ...
...Also as capital inflows are curtailed, the balance in the currency market should tilt towards yuan depreciation....
...From Bloomberg: Local-currency-denominated loans were 1.01 trillion yuan ($160.1 billion) in March, the People’s Bank of China said yesterday, the biggest surprise above forecasts in more than a year....
...With that in mind, the yuan trading ban move shouldn’t be viewed in isolation....
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