Sina.com news reports (via MNI) that Ma Jun, chief economist at the PBOC's research bureau says:

  • People ... forgot that Chinese stock prices already gained over 100% before falling 40% and that meant prices were still up 30%-40% compared with a year ago
  • Says Chinese economic fundamentals have not had any major changes over the past year
  • It's not enough to only look at the stock market and exchange rate to judge Chinese economic conditions
  • Says property market recovering... and with time for government easing measures to take effect, the Chinese economy would be much better than the more pessimistic market expectations over the coming two to three quarters