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China Regulators Complete Final ‘Drill’ In Preparation For Petro-Yuan Futures Trading

Amid all the chatter of Venezuela and Russia potentially creating oil-backed cryptocurrencies, the "huge news" of China's launch of the Petro-Yuan has fallen off the front page… until now. This week saw the Shanghai Futures Exchange complete its fifth yuan-back oil futures contract trading drill successfully… As Bloomberg reports, 149 members of Shanghai International Energy […]


China Regulators Seek To Calm Mania For HK Stocks As Plunge Protectors Make An Appearance

The Chinese authorities’ efforts to contain leverage and reduce risk across the nation’s financial system took another step forward overnight with the ban on approvals for mutual funds that plan to allocate more than 80% of their portfolios to Hong Kong stocks. This looks like a response to surging capital flows into the territory from […]


A “New Era” In Chinese Regulation Means Turmoil For $15 Trillion In China’s “Shadows”

The post-Party Congress attempts to deleverage and crack down on the worst abuses in China’s horrific credit bubble – especially the country's $15 trillion in wealth-management products – saw China’s authorities turn their sights on shadow banking and wealth management products (WMPs) specifically. On their way out are "guaranteed returns" and “capital pools”, which had […]


China’s Big Bang Bombshell: Beijing Opens Financial Sector To Foreign Ownership, But Why Now?

That was quick. Trump leaves China (only to go back on the offensive about unfair trade practices in his APEC speech) and just hours later Trump's new Beijing friends announce that foreign firms will be permitted to take majority ownership in Chinese financial firms… well capped at 51% for now anyway. We doubt that this […]


“Kill The Bulls” – Traders Puzzled By Last Minute Hong Kong Crash

Is this what sparked the global slide in stocks? After months of 'calm', well-managed market gains, Hong Kong's Hang Seng Index crashed almost 600 points in the last few minutes of the day – the biggest drop since the day of the US election in Nov 2016… Some big movers included Geely Automobile Holdings, which […]


China’s $9 Trillion Shadow Banking System Shrinks For The First Time In 9 Months

On the surface, the latest Chinese credit data reported overnight by the PBOC was not particularly memorable: new loans tumbled from the near record 1.540TN Yuan in June to only 825.5BN in July, just above the 820BN expected, while Total Social Financing also declined substantially from June’s 1.78TN to 1.22TN, also beating the 1TN estimate. […]