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Media Report
January 10 , 2016
  • Financial Times reports, "China's financial system is "largely stable and healthy," the country's foreign exchange regulator said at the weekend in an effort to reassure global markets as investors braced for a possible resumption of last week's market turmoil.Attention is likely to focus on China's central bank and its management of the renminbi this week, after the markets regulator appeared to stabilise last week's stock sell-off by scrapping a controversial "circuit breaker" mechanism and extending a ban on share sales by large shareholders.The renminbi fell 1.5 per cent against the dollar in onshore trading last week to Rmb6.59 — a sharp move for the carefully managed currency. Traders have largely ignored the central bank's guidance that they should focus on the renminbi's stability against a basket of 13 currencies rather than volatility against the dollar."
  • The Washington Post writes, "The first panda sighting happens soon after visitors step off the plane here, on the way to baggage claim. Stuffed pandas pose on AstroTurf at the airport, their beady plastic eyes circled in black. Later, visitors will spot pandas staring back from store marquees and taxicab decals all over this metropolitan region of 14 million in southwestern China. Chengdu is a booming high-tech hub: If you're reading this on an electronic device, that device might well have started life here. But fiery cuisine — and pandas — came first. The Smithsonian's National Zoo has four of the animals, including its newest addition, Bei Bei, who is making his public debut."

  • Fox News reports that China's consumer inflation edged up 1.6 percent in December year on year as food prices rose, official data showed Saturday.The inflation rate reported by the National Bureau of Statistics was up from November's 1.5 percent and was driven by a 1.5 percent increase in food prices. The price of fresh vegetables jumped 13.7 percent and fresh fruits went up 2.3 percent. Consumer inflation had been drifting down after hitting 2 percent in August. Relatively low inflation has given Chinese leaders room to cut interest rates six times since November 2014 to stimulate the slowing economy. Saturday's data showed that consumer prices were up 1.4 percent in 2015 compared with the previous year, also pushed by higher food prices. Pork prices jumped year on year by 9.5 percent and fresh vegetables went up 7.4 percent.

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