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Media Report
February 26 , 2016
  • Reuters reports: "China sought to restore confidence in its economy as financial leaders from G20 nations gathered in Shanghai on Friday, and Premier Li Keqiang urged greater global coordination and consideration of policy spillovers...Overhanging the summit of major economy finance ministers and central bankers are global concerns about China's ability to manage its domestic markets, currency and commitment to wider restructuring reforms....China's central bank governor Zhou Xiaochuan repeated assurances the country would not stage another devaluation of its currency...to support the economy. He also sought to manage expectations around the speed of China's economic reform agenda."
  • The New York Times reports: "Zhou Xiaochuan, the governor of China's central bank, held a rare news conference in Shanghai on Friday morning, as finance officials from around the world gathered for the Group of 20 major economies meeting. Mr. Zhou acknowledged worries about spiraling debt at Chinese corporations and local governments but offered reasons why the Chinese economy might be uniquely able to deal with it for the time being....Following Mr. Zhou's remarks, the Shanghai stock market rebounded 1 percent on Friday, on the heels of a 6.4 percent plunge on Thursday. ...What Mr. Zhou did not do on Friday, however, was provide any indication of when he might next offer an explanation of Chinese monetary policy. He also did not announce any plans for the People's Bank of China to follow other leading central banks — like the Federal Reserve, the European Central Bank and the Bank of Japan — in holding regular news briefings after important policy decisions."      
  • The Guardian reports: "China has expressed 'concern and dissatisfaction' with Australia's defence white paper, a multibillion-dollar framework for military acquisition and strategy over the coming decades that was released on Thursday. The white paper noted 'a number of points of friction', including over China's territorial ambitions in the South China Sea....The white paper highlighted the importance of Australia's bilateral relationship with China but expressed concerns over some elements of the relationship. 'As China grows, it will continue to seek greater influence within the region,' the document said. 'As a major power, it will be important for regional stability that China provides reassurance to its neighbours by being more transparent about its defence policies.'"
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