Hours after a creditor and his gang of tattooed thugs hustled Zhong Maojin into a coffee shop in Wenzhou, he says he wouldn’t yield to their demands.
China’s so-called mini-stimulus is beginning to morph into something larger.
Wang Tao, an economist with UBS AG in Hong Kong, comments on the widening of the yuan’s trading band by the People’s Bank of China.
China’s central bank called on the nation’s biggest lenders to accelerate the granting of mortgages, a sign that developers’ prices cuts and incentives alone won’t boost a slumping housing market and economy.
China’s stocks fell from a two-week high as slower-than-estimated growth in industrial output, fixed-asset investment and retail sales increased concern the economic slowdown is deepening.
Wang Tao, China economist at UBS AG in Beijing, comments by e-mail today on the 50-basis-point reserve requirement ratio increase by China’s central bank, to take effect Jan. 20.
Most Chinese stocks rose, led by technology and telecommunication companies. A gauge of property developers dropped for a fifth day, the longest stretch of losses since February.
"The economy is still slowing."
- Wang Tao on May 12, 2014
UBS’s Wang Tao Says Chinese Economy Will `Pick Up’