People's Bank of China dep gov Chen managed to squeeze a lot into his weekend comments:
- will maintain a prudent monetary policy stance in 2019
- will hold the yuan in line with fundamentals
- will use fiscal tools to spur growth
- economy has been generally stable
- China will further open the financial sector
- China will level the playing field between local and foreign-funded institutions
Whew …. but wait there is more:
- China will keep improving the exchange rate mechanism
- yuan to be kept not only in line with fundamentals but also at an adaptive equilibrium level
- potential for foreign portfolio investment inflows is rising
- stock market is showing signs of bottoming out and recovering
