4Q: Industrywide Bad-Debt Ratio Fell, While We Believe Credit Cycle Has Yet to Peak
China’s banking regulator, CBRC, released 2016 operating data for commercial banks, with net profit up 3.5% from 2015. Fourth-quarter earnings...
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Tighter Monetary Policy to Facilitate Financial Deleveraging in China
After lifting the medium-term lending facility rate by 10 basis points on Jan. 24, the People's Bank of China raised the overnight short-term...
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What Caused the CNH Surge?
There was some consternation last night as the CNH surged against the USD bringing the CNY-CNH spread to an unprecedented 800 or so. What is...
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Signs of a Smaller, Less Dynamic China
Rapid growth from a dynamic economy once defined China, as it modernized its huge industrial sector. Now an ageing and declining population,...
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Renminbi Fails to Make the International Grade
Not so long ago China's renminbi was being touted as an up-and-coming currency. But recent figures from SWIFT suggest that the it is being used...
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