Reports indicate that the US and China could agree to a partial trade agreement. It is expected to cover currency and agriculture purchases and a delay in the tariff hike scheduled for next week.
Trump and Chinese Vice Premier Liu He are now scheduled to meet at 2:45 p.m. ET.
The China Securities Regulatory Commission said Friday overseas financial service companies in futures, securities and mutual funds will be able to apply for total control of onshore ventures starting in 2020. This will speed up the opening of China’s financial markets.
Good things are happening at China Trade Talk Meeting. Warmer feelings than in recent past, more like the Old Days. I will be meeting with the Vice Premier today. All would like to see something significant happen!
— Donald J. Trump (@realDonaldTrump) October 11, 2019
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the PBOC, as a conduit for Chinese state owned banks and other investors, owns about $800bn of USD equities and fixed income in their investment portfolio, of which about 1/4 are equities. The equities side has had a $60bn of unrealized gains in the past 12 months which is more than the value of all their soybean imports.
In other words, it is clever of the Chinese to give in to some trade topics in order to boost their investment portfolio.
They will get lots more soybeans.
At this point I doubt they will get anything. The tide has turned against the CCP. No one believes them. They can’t even hire a marketing firm to white wash the mess in Hong Kong.
At this point, the delay tactic the Chicoms been pulling off the Trump admin is comical.