China is preparing for a “whatever it takes” moment but not yet
Recently, Chinese government has introduced a series of stimulus policies, including lowering interest rates, cutting the reserve requirement ratio, and creating a couple of PBoC- funded credit policies to support the equity markets. Shortly after, news reported that the government may issue two-trillion-yuan special treasury bonds to further boost fiscal measures, although this has not been fully confirmed yet.The launch of several policies under the official label of stimulus is unprecedented in recent years. Notably, the speech by the Governor of the People's Bank of China was exceptionally...