I think things are coming to a pause with Yang stepping down.
Exports to the U.S. and EU have been a key source of China's GDP growth and that's not a sustainable growth model. The other key concern is whether investment will rebound. If it stays at below 30 percent I'll feel more comfortable.
The stock exchange is asking them to clarify all this newspaper speculation.
I am turning cautious on China equities. Growth has been fully priced in and re-rated, and a 'China premium' is re-emerging.
