China Data Table: MNI China Liquidity Survey

     China Data Table: Liquidity Survey For August 2017

                      Aug    Jul   Jun   May   Apr   Mar   Feb   Jan   Dec   Nov

--------------------------------------------------------------------------------

Current      Better   0.0    0.0  31.6  78.9  21.1  40.0  10.5  35.0   0.0   0.0

Liquidity      Same   5.3    0.0  21.1  10.5  10.5  25.0   0.0  15.0  14.3  57.9

Condition     Worse  94.7  100.0  47.4  10.5  68.4  35.0  89.5  50.0  85.7  42.1

Current      Higher  10.5   42.1  15.8  10.5  73.7  65.0  73.7  25.0  57.1  15.8

Economy        Same  26.3   31.6  15.8  26.3   5.3  30.0  21.1  60.0  28.6  57.9

Condition     Lower  63.2   26.3  68.4  63.2  21.1   5.0   5.3  15.0  14.3  26.3

Current      Higher  26.3   26.3  31.6  31.6   0.0  15.0   0.0  25.0   0.0   0.0

Policy         Same  52.6   52.6  57.9  26.3  52.6  35.0  10.5  45.0  23.8  73.7

Bias          Lower  21.1   21.1  10.5  42.1  47.4  50.0  89.5  30.0  76.2  26.3

PBOC         Rising  15.8   52.6  31.6  42.1  36.8  30.0  47.4  35.0  57.1  21.1

Guidance       Same  42.1   47.4  68.4  42.1  63.2  60.0  52.6  65.0  23.8  73.7

Clarity     Falling  42.1    0.0   0.0  15.8   0.0  10.0   0.0   0.0  19.0   5.3

Rates        Rising  42.1   42.1  73.7  52.6  47.4  85.0  42.1  50.0  71.4  42.1

Outlook        Same  31.6   31.6  26.3  36.8  47.4  10.0  42.1  30.0  28.6  57.9

In 2 weeks  Falling  26.3   26.3   0.0  10.5   5.3   5.0  15.8  20.0   0.0   0.0

Rates        Rising  47.4   47.4  47.4  57.9  78.9  65.0  57.9  80.0  81.0  21.1

Outlook        Same  31.6   31.6  10.5  15.8   0.0  30.0  15.8  15.0   9.5  52.6

In 3

months      Falling  21.0   21.0  42.1  26.3  21.1   5.0  26.3   5.0   9.5  26.3

     All above data percentages unless otherwise specified

[TOPICS: MTABLE,MAQDT$,M$A$$$,M$Q$$$,MI$$$$,MX$$$$]