A few items in China's press today, these via Bloomberg:
Economic Information Daily weigh in with an article saying China should rein in "inappropriate" financial innovation
The 21st Century Herald cite a former vice finance minister warning import growth may remain high this year, which could lead to trade deficits. On the bright side he said he didn't foresee a trade war with the US.
And the State Administration of Foreign Exchange (SAFE), posting on their own website, possible 'cause they are too boring to get into the papers.
An article from the head of SAFE
- Says to keep yuan basically stable at a reasonable, equilibrium level
- Won't use a depreciating yuan to boost competitiveness
- FX Reserves are ample
- Will open capital account in a prudent, orderly way
Sounds like a wish list to me.
