- I was a little bit surprised that the Central Committee of the Chinese Communist Party's (CCP) communique got more attention in the U.S. last week than the speech given by the governor of China's central bank.
- The third section received the most interest from the financial market. It talks vaguely about further opening up the financial industry.
- But its wording on the yuan's role was considered the strongest and clearest signal that unless there are other substantial risks, the "strong yuan" policy is now implicitly the official policy.
For further details see:
Reading Between The Lines Of China's Macroeconomic Message