- HSBC Preliminary PMI for Mar remaining below 50
- Surprisingly large trade deficit in Feb
- Slowing growth of CPI in Feb ( 3.2% YoY v.s. 4.5% YoY in Jan)
- Reference exchange rate set by PBOC reached record high of 6.2891 RMB/USD on Friday
- GDP growth target cut to 7.5% announced earlier this month
- 2nd RRR cut in Feb since the tightening ended last year
Pete
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