Comments by PBOC governor Yi Gang via Caixin news
- Local government debt and financial risks are controllable
- China's macro economy is still stable
- Monetary policy is to be based on domestic economy
China continues to put up the facade that they are still confident of reaching its 6.5% GDP growth for this year. This despite the ongoing trade issues with the US together with a weakening currency as well as a tumbling stock market.
These are interesting times for China and the manner in which the authorities react to the recent developments will potentially have massive ramifications for global markets. They've still been pretty mum about all of the above issues, but I reckon it's only a matter of time before they will have to break their silence.
