Comments on the wires from the Peoples Bank of China from their 2014 financial stability report

  • will improve market-orientated yuan exchange rate mechanism
  • will set up deposit insurance system in 2014
  • will quicken financial innovation
  • stable long-term growth outlook unchanged
  • PBOC to orderly let wealth management products default
  • downward economic pressure exists
  • US QE exit may cause China market fluctuations

A mixed bag but nothing we don’t already know