Take China’s easing signals with a grain of salt

Beijing is flagging a fresh focus on economic stability as growth slows, and pumping $188 bln into banks. Some battered sectors will get political breathing room, but this probably isn’t the sort of stimulus investors are looking for, says @ywchen1

Banks, Central Banks

12/7/2021 7:47:00 AM

Beijing is flagging a fresh focus on economic stability as growth slows, and pumping $188 bln into banks. Some battered sectors will get political breathing room, but this probably isn’t the sort of stimulus investors are looking for, says ywchen1

Beijing is flagging a fresh focus on economic stability as growth slows, dropping tough talk about tech monopolies while pumping $188 bln into banks. Some battered sectors will get political breathing room, but this probably isn’t the sort of stimulus investors are looking for.

Context NewsChina's politburo, the country's top-decision making body, convened a meeting on Dec. 6 where it discussed economic priorities for 2022, according to a summary of the meeting published by the official Xinhua news agency late that night.

The politburo concluded that economic stability is the biggest priority next year, requiring more efficient fiscal policies and flexible monetary policies.China's central bank said on Dec. 6 it would cut the amount of cash that banks must hold in reserve, releasing 1.2 trillion yuan ($188 billion) in long-term liquidity. The cut will take effect from Dec. 15.

Source: REUTERS/Sean YongAn employee counts yuan notes at a bank in Nanjing, capital of east China's Jiangsu province June 17, 2006. China's central bank said on Friday it will raise bank reserve requirements by half a percentage point effective July 5. (CHINA) headtopics.com

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