PBOC has relaxed cross-border funding

Announcement by the People's Bank of China (PBOC) and the State Administration of Foreign Exchange (SAFE):

Will raise the macro-prudential adjustment parameters for cross-border financing from 1 to 1.25. this will allow corporates and banks' to boost cross-border financing and potentially increase foreign capital inflows.

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This is a positive sign from China and should lend a boost to stocks there today. After yesterday, its needed.

Earlier:

• Goldman Sachs warn on China leadership - the risks that sent HK's Hang Seng into freefall
• China's new leadership group: pro-market pragmatists "gone"
• Rare China optimist spotted: Allianz says China will lift its Covid-Zero policy soon