• China’s central bank will take into account off-balance sheet financing at commercial banks to assess their overall financial health, three sources with direct knowledge of the matter said late on Tuesday: Reuters
  • China is studying the extension of a tax cut policy for small-engine cars, and improving the subsidy policy for new energy vehicles, said an official within the Ministry of Industry and Information Technology
  • China’s State-Owned Assets Supervision and Administration Commission (SASAC ) will set up three new oversight bureaus, which will been assigned responsibilities to investigate major state-owned losses: Yicai.com
  • China’s lottery sales in September rose 10.3% YoY to 32.07 billion yuan; in January-February, lottery sales rose 6.6% YoY to 289.74 billion yuan: the Ministry of Finance
  • China’s 10-year treasury closed 0.21% down to 101.285, as media reports said PBOC will tighten up regulatory scrutiny over bank’s wealth management products
  • Fitch said risks of a hard landing for China’s economy and of a further sharp depreciation of the yuan have receded in the near term, adding that “There are signs of stabilization in the Chinese economy… the policy response in China will allow the country to manage its growth gradually to a sustainable level and avoid a hard landing.”
  • Xinhua said in a commentary article that there is no need for China to play the number game, and that the country has ample policy tools, including monetary and fiscal policy as well as structural reforms, to keep the economy within a 6.5% to 7% range it has set up for this year
  • The onshore yuan against the dollar closed at 6.7686, 92 basis points higher than Tuesday’s official close of 6.7718, and ending a losing streak of five trading days
  • Transaction fees for glass and thermal coal futures will be increased to 6 yuan per lot and 12 yuan per lot, respectively, starting from night trading of October 26, the Zhengzhou Commodity Exchange said