Support for private sector; Country Garden; Huawei's new phone; UK Foreign Secretary; Bond data
Another slow late summer day, so the newsletter again is a bit boring. Earlier today I published this week’s episode of the Sharp China podcast, in which we had good discussions about the Fukushima water release and US Commerce Secretary Raimondo’s visit. You can listen to the podcast here.
Summary of today’s Essential Eight:
More support for the private sector coming - The People's Bank of China convened a meeting to discuss financial support for the development of private enterprises. Officials from the National Financial Supervision and Administration Bureau, the Shanghai Stock Exchange, and the Shenzhen Stock Exchange also attended. According to officials, detailed implementation measures for the July 19th 31 point “Opinions of the Central Committee of the Communist Party of China and the State Council on Promoting the Development and Growth of the Private Economy” will be released soon.
Country Garden mess - The teetering real estate firm announced an almost USD $7 Billion loss for…