China NBS: Recent Yuan devaluation due to more to global situation

Additional comments crossed the wires from China’s National Bureau of Statistics (NBS) spokesperson, via Reuters, in response to the in-line with estimates Chinese growth numbers for the third quarter.

Key Headlines:

GDP at same growth rate as it discounts CPI

China property curbs timely, effective, cool market, lead to lower price in some cities

Ultimate goal of property curbs to support economy

Yuan depreciation has brought pressure in short term

Yuan has no fundamental to depreciate in medium, long term.

Recent devaluation due to more to global situation.