Market review:
The Shanghai Composite Index sank 3.5 percent to 2,900.97 at the close.
Research Notes:
1.China will build more banks in the countryside, reduce the cost of banking and encourage innovation in financial products, according to the 2016-2020 Plan on the Development of Inclusive Finance released by the State Council on Friday.
2.PBOC injects 100 billion Yuan liquidity via MLF today.
No much boosting move from the government side , so the sentiment’s quite depressed with that worse than expected new loan data. People can worry about vanke for the weekend and maybe eyes on PBOC also.
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