The author is a Reuters Breakingviews columnist. The opinions expressed are his own.
from Anatole Kaletsky:
A severe slowdown in China is viewed as among the greatest risks facing the world economy this year, and Thursday’s dismal news on Chinese manufacturing output exacerbated these fears. But the really important news from Beijing pointed in the opposite direction: Bank lending in China, instead of slowing dramatically as many economists had expected, accelerated in January to its fastest growth in four years.
from Financial Regulatory Forum:
By Zhou Xin and Jason Subler
BEIJING, Nov 11 (Reuters) - China sent its clearest signal yet that it was ready to allow yuan appreciation after an 18-month hiatus, saying on Wednesday it would consider major currencies, not just the dollar, in guiding the exchange rate.
In its third-quarter monetary policy report, the People's Bank of China departed from well-worn language on keeping the yuan "basically stable at a reasonable and balanced level". It hinted instead at a shift from an effective dollar peg that has been in place since the middle of last year.