On Lan’s remarks that local governments have 2.3 trillion yuan of funds from special bonds that they can use by the end of this year -- That’s NOT fresh stimulus, because he said that comprised of bonds that have been issued but not used yet, plus bonds that haven’t been issued but within this year’s quota. So it’s all within the budget previously known. So I think AFP's report about issuing $325 billion in bonds was not precise. $BANK OF CHINA (03988.HK)$$CNH/CNY (CNHCNY.FX)$$USD/CNH (USDCNH.FX)$$Hang Seng Index (800000.HK)$$NASDAQ Golden Dragon China (.HXC.US)$
102566976
:
"not precise" perhaps, but more importantly, it's misleading. people gotta be careful about information like this especially when there's so many eyes on the Chinese stock market recently
as 1)the Chinese real economy likely remains a big drag, and 2) PBOC still wants to avoid a one-sided appreciation of CNY in the context of the weak economic environment, and the fact that Chinese economy is more reliant on exports growth when domestic demand is under downward pressure and shows no signs of turning around. $USD/CNY (USDCNY.FX)$likely stay range-bound in the near term, with a tailwin...
74724029 : Is this bullish?
家慧 : Bear coming