Banking (General)

Oiling the wheels of this virtuous cycle has become a hot topic for policymakers and officials. China can’t achieve its tech self-sufficiency goals without funding, and reorienting the financial sector to meet that challenge will be a top priority for financial policymakers for the foreseeable future…

Companies and banks will likely be hesitant to borrow foreign currency with USD rates so high, so the MAP adjustment in and of itself probably won’t impact the exchange rate much, but it’s another strong signal that the PBoC is unhappy with the pace of depreciation…