The trial program kicked off two weeks ago, drawing much attention from the media. It was largely interpreted as a sign of loosened capital controls.
The State Administration of Foreign Exchange (SAFE) made phone calls to the Zhejiang provincial SAFE bureau and the Wenzhou municipal SAFE bureau, saying the trial was not approved by SAFE after media coverage, according to Outlook Oriental Weekly, owned by the state-run Xinhua News Agency.
RBA’s iron ore meltdown
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The geniuses at the RBA have turned their eye to Chinese steel, and, as
usual, the outcome is a disaster: Weakness in the Chinese urban residential
const...
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