Two more (separate) items from China this weekend
Shang Fulin, chairman of the China Banking Regulatory Commission (CBRC) said cuts to ratings/outlooks on China and its financial institutions were a misjudgement
Its not news that China isn't happy about ratings cuts:
- China People's Daily: 'Misunderstanding' over Moody's move
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Also, Liu Shiyu, chairman of the China Securities Regulatory Commission (CSRC) spoke over the weekend, said there will no reintroduction of circuit-breakers into Chinese stock markets in the next few years
You may recall the sharp sell offs in Chinese stocks in January, when circuit breakers were blamed for fuelling the selling. Which, while probably containing an element of truth, did tend to diminish the role of other, more important, and more intractable, factors.
