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Central Bank Shanghai Office has united 25 Shanghai local bank to restrict the credit policy

PBoC is calling for restriction on mortgage on houses, on the meeting hold yesterday. It said the investigation on the qualification of mortgage requests has to be very careful. To examine the citizens’ downpayment check and enhance the check on income testification. PBoC also asked for local banks to change asset structuure and ensure the structural reform on supplyy-side demand.

GDP is increasing at 6.7% in 3Q16, the same as 2Q16

GDP increase rate is 6.7% in the third quarter, reaching the lowest level since 2009. Real estate has contribute 8% of overall GDP from Jan to Sep. Consumptions’ contribution increased by 13.3%, reaching 71% of total drivers. Bet nex export is still below zero, with 7.8% Additionally, the unemployment rate is under 5% for the first time in three years.

Bob is finally “Thomas”: a true poet

Bob Dylan wins Nobel Prize. He is now looking for a phone booth in the Midwest to call Joan Baez and tell her the good news. One of the greatest American poets, he has now become his own dream, Thomas Dylan himself. Two songs for to listen today : Lay Lady Lay, Blowing in the Wind, and the Guns&Roses version of Knockin’ on heavens door. And finally, for those of you who want to know what women thought of him, there is “Diamonds and Rust”.

Geraci Suggests to Chinese Finance Professionals a Good Investment Opportunity in Italian Banking Sector

October, Geraci participated in 2016 China-UK Financial talent education advanced training course.
Geraci discussed how the existence of the euro is taking away flexibility from the individual countries to adjust the monetary policy according to their needs.
October, Geraci participated in 2016 China-UK Financial talent education advanced training course.
Geraci discussed how the existence of the euro is taking away flexibility from the individual countries to adjust the monetary policy according to their needs REPEAT.

Onshore RMB exchange rate is in its lowest level for six years

After RMB joining SDR, the CNY exchange rate started to decline and by 20:00 on 11th Oct, the rate is below 6.71. PBoC claims this decline after Nationanl Holiday is probably because of a serious of news happened during seven days. JPY increased, Britain left EU agenda was made. However, PBoC still think this decline is normal since the devaluation of RMB is less than other emerging economic entities.

China does the best it can under current situation

Interviewed by Sputnik Radio,Geraci argues that: “Chinese’s model is indeed a system that is not in touch with the modern world, but it is the best system for China because China lives in a different era, because China’s level of development is not comparable with what we have in other parts of the world. It is like a country that lives a century earlier, but the system that China has now is probably the best for China in this historical moment. We should be careful when we criticize China on monetary policies as we may find out that they are actually more reasonable than those of ECB and FED.”

Citigroup said China is not the only country facing real estate bubble

According to Citigroup report, in Sep, Tianjin, Foshan, Changzhou, and Changsha is exceeding 100% of house voluume turnover. Citigroup said although Chinese real estate industry is in a huge bubble, but the international economy is also facing the same bubble. Current city governments’ restriction on real estate is a positive signal that government is trying to change this situation. Jianlin Wang of Wanda said the biggest problem now is the fast growing in 1st and 2nd tier cities but decreasing price in small cities. The rate of houing vacancy is to high.

Geraci calls for an immediate halt in EU integration.

Geraci on CCTV Dialogue calls for a European Union to stick to economic cooperation only and to re-think grand plans for momentary and political integration. That is break up of the Euro. He also hopes that Angela Merkel loses elections next year. Today,Pope Francesco proclaimed the International Day of Peace and Geraci reminded CCTV audience that the life of an Italian, a German, a Chinese are all equally worthy regardless of religion, colour and nationalitynglish language.

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