• The yuan’s share of the global payment in September rose to 2.03%, compared with 1.86% in August: Swift
  • The Financial News, a paper affiliated with the PBOC, said in a commentary article that there is not much room for the yuan’s further depreciation against the US dollar
  • Profits earned by China’s industrial firms in September rose 7.7% from a year earlier, down from 19.5% in August; industrial profits rose 8.4% in the first nine months from a year earlier, the same pace as in the first eight months of the year: National Bureau of Statistics (NBS)
  • Ma Jun, chief economist of The People’s Bank of China, said off-balance sheet wealth management products have not yet formally been included in the scope of broad credit: Yicai
  • Moody’s says in a quarterly report that China’s economy-wide leverage continues to increase; total social financing has risen to an estimated 220% of GDP from 206% at end-2015; credit flows are being sustained by bank lending, especially mortgage loans, and a revival in corporate bond issuance
  • In the first three quarters, China’s crude steel outputs stood at 603.78 million tons, up 0.4% YoY; steel production rose to 851.78 million tons in the period, up 2.3% YoY: the National Development and Reform Commission
  • The Offshore RMB against the US dollar fell to 6.7920 as of 10:36 Beijing time, hitting a fresh record low; the onshore RMB against the US dollar fell to 6.7790
  • The Shanghai index closed 0.34% lower by the midday break, while the Shenzhen index lost 0.42% and the ChiNext index shed 0.2%