Qu Hongbin, chief economist for China at HSBC Holdings Plc, comments on the widening of the yuan’s trading band by the People’s Bank of China.
Chinese manufacturing gauges pointed to weakness in the world’s second-biggest economy that could prompt the Communist Party leadership to roll out additional support measures.
A Chinese manufacturing gauge rose to a four-month high, signaling that the economy is stabilizing even as job cuts and weakness in the property market underscore pressure on the government to do more to support growth.
"This warrants further policy easing, and we expect more easing measures on both the monetary as well as fiscal fronts in the months ahead."
- Qu Hongbin on Oct 23, 2014