The onshore yuan mid point for SWednesday
In OMOs:
- PBOC to inject 140bn yuan via 7-day reverse repos
- PBOC to inject 80bn yuan via 14-day reverse repos
- PBOC to inject 10bn yuan via 28-day reverse repo
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Dunno if this was noted:
- The State Administration of Foreign Exchange issued a directive on Monday to banks, saying that domestic customers must check with the Beijing regulator before transferring $5 million or more - in dollars or renminbi - out of the country
- The rules will also cover renminbi that is sitting in overseas accounts, which had previously escaped most regulation
The directive was private, between SAFE and the banks, but it leaked (more at NYT)
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Also, from Moody's: China property sales to slow, price growth to decelerate in 2017
- "The latest round of measures will likely also moderate property price growth in major cities where prices have been growing particularly fast"
- "However, policies targeted at clearing inventory in lower-tier cities with high inventory levels will remain supportive of property prices. Spillover demand from tier 1 and 2 cities with purchase restrictions to nearby satellite cities will also benefit developers operating in those cities"