State Administration of Foreign Exchange with their latest report

  • China won’t be completely immune from USD volatility
  • Yuan has less chance of falling than emerging market ccys
  • warns on capital outflow pressure in H2
  • Q2 capital acount surplus +USD 28.6 bln
  • Q2 current account surplus +USD 50.9 bln

The capital outflow concerns are a main reason for the measures announced earlier and yesterday