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Depreciation pressure on the Chinese....>

CHINA PRESS
CHINA PRESS: Depreciation pressure on the Chinese Yuan constrained the People's
Bank of China from injecting liquidity into the market to match skyrocketing
government bond issuances in May, Securities Daily reported by citing Ming Ming,
the chief fixed-income analyst with Citic Securities. China plans to issue more
than CNY200 billion in local government bonds this month, marking another
historical high, the newspaper reported citing data from Wind Information.
Despite this, the PBOC has not made any major moves since mid-April, when it
lowered the required reserve ratio for targeted financial institutions. 

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