According to its recently announced economic plan, China will deepen state-owned enterprise reforms and support medium and small firms to develop. Below are some additional takeaways, pre Reuters.
“Will deepen medium and small lenders reforms and to improve their governance and internal risk control.”
“Will improve legal environment that supports private economy and foreign enterprises.”
“Will prevent various kinds of risks and to keep a stable economy.”
“Will support capital replenishment of small to medium banks via multiple channels.”
“Will strengthen financial infrastructure supervision and development.”
“Will make financial institutions, local governments and financial regulators to carry out their responsibilities.”
“Will set up punitive compensation system for intellectual property infringement.”
These announcements failed to improve the market sentiment and the 10-year US Treasury bond yield was last down 1.75% on the day at 1.828%.
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