Comments on the wires from the Peoples Bank of China from their 2014 financial stability report
- will improve market-orientated yuan exchange rate mechanism
- will set up deposit insurance system in 2014
- will quicken financial innovation
- stable long-term growth outlook unchanged
- PBOC to orderly let wealth management products default
- downward economic pressure exists
- US QE exit may cause China market fluctuations
A mixed bag but nothing we don’t already know