Via MNI this morning comes a couple of items of note in the Chinese press

China Securities Journal (The Journal quoting Bai Ming, a researcher with Ministry of Commerce):

  • Yuan depreciation against the US dollar will benefit exporters
  • Especially labor-intensive ones

Economic Information Daily:

  • Some local governments are speeding up securitizing of state-owned assets
  • Increased ratio targets of more than 50% in 2016 (currently around 20%)
  • A total of CNY30 trillion of state-owned assets expected to be invested in the stock market in coming years based on initial calculation
  • Increasing the securitization ratio of state-owned assets will help expand funding channels, liquidate existing capital and diversify the equity structure

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Of more note for today's opening soon were developments overnight:

  • Yuan unwinds most of this year's decline