China’s Vice Premier Liu He crossed the wires in the last minutes, reiterating that China is fully capable and confident to deal with any difficulties. "China's economy faces increasing downward pressure," Liu He added. "China has sufficient macro policy tools and will increase lending to small and private firms."
Liu He further noted that they will step up counter-cyclical adjustments by financial regulators and improve the monetary policy transmission mechanism.
These comments had little to no impact on the market sentiment and the 10-year US Treasury bond yield was last up 2.63% on the day at 1.511%.
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