The USD/CNY reference rate setting is coming soon (around 0116GMT ... stay tuned!)
Meanwhile:
- China Securities Journal reports that New loans in January will likely exceed the record high of 2.51tln yuan seen in last January last year
Yowza ...
The PBOC have been flooding the market with liquidity ahead of the long holidays (Lunar New Year January 27 to February 2), and in doing so saying its not an easing but just extra cash to satisfy the seasonal demand .... but when I see data like this on New Loans I gotta think maybe it is a bit of extra easing? (TBH I don't think it is ... but I've been wrong before ... and often am!)
Also, for China stock market traders ...
- the Shanghai Securities News today is reporting that brokerages are preparing for the Shanghai-London stock exchange link