Comments by PBOC governor, Yi Gang
- Overcapacity has significantly eased
- Downward pressure on the economy is increasing
Nothing more from Yi so far. But this has been the common rhetoric from Chinese officials as of late, that there is "downward pressure on the economy" so Yi's comments aren't exactly anything new.
As a side note, China is set to lay out its economic policies for next year on 19 to 21 December so watch out for that. Earlier in the day, rumours were that they will set out policies that will boost growth and that helped to give support for Chinese equities and risk.
