PBOC Dep. Governor Yifei: China must promote pension investment to bolster capital market
|Reuters came out with the comments from Fan Yifei, vice governor of the People's Bank of China while quoting the Shanghai Securities News. The policymaker supporting opening up for Beijing’s financial markets while pushing for more investment into pension funds.
Key quotes
China pension system can help develop direct financing
Would support the country's ‘deleveraging’ campaign, if long-term pension funds are matched with companies' equity financing and long-term bonds.
China could further open up its financial markets by allowing more foreign financial institutions to participate in its pension investment management
FX implications
Despite being not top-tier news, also having a little impact, signals to witness further liquidity in the financial markets of its largest customer can benefit Australia. The gains, however, seem to have limited by the press time of early Monday when the AUD/USD pair slips back to the sub-0.6900 mark.
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