PBoC on the RMB; Leading Group on Carbon Peak and Carbon Neutrality; US-PRC talks

Today’s Essential Eight items:

1. PBoC says RMB could go up or down, but don’t speculate in it - Expect a crackdown on speculators;

2. Leading Group on Carbon Peak and Carbon Neutrality - First meeting, chaired by Han Zheng, a sign the bureaucracy is being mobilized to achieve both;

3. Hong Kong, PRC - Election law changes pass Legco, Jimmy Lai’s bankers get a warning;

4. US-PRC talks - Tai and Liu have their first chat, not clear anything of substance came from it;

5. PRC reaction to Biden’s statement on origins investigation - Pound sound and Fort Detrick;

6. Understanding China’s deterrence signalling - Interesting, long report from RAND;

7. Taiwan’s Covid-19 mess - Cases rising as Tsai says Beijing blocked deal with BioNTech, which had signed a deal with Fosun for “Greater China” including Taiwan;

8. Australian Yang Hengjun goes on trial - Closed door, will be found guilty, likely in jail for a long time.

Thanks for reading, I hope to see many of you in tomorrow’s weekly discussion thread.

Reminder: Monday is th…