An interesting news I picked up today to share with you...
Government is indeed doing whatever it takes to boast domestic consumption in China...
But I doubt the actual effect it will produce. The saving rate in China is over 40%, people do have money to spend but just they don't spend it, how can credit help?
Besides, the pilot project will be in Shanghai where the GDP is among the highest in China, do people there really need credit to accelerate domestic spending?
City tapped to pilot consumer finance by -- SHANGHAI will be among the first cities in China to launch consumer finance companies under a draft plan released yesterday by the nation's banking watchdog.
"Shanghai has been studying a plan for consumer finance...
2 Comments:
Welcome back!
Do you think the china ADR spurt is sustainable? It reminds me again those days in 2007.
ACH? SNDA?
CAF premium is down to around 20% level from 2 weeks ago when I wrote.
Expect to see further adjustment in near term, I will not buy at this price
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