Explanations by the Chinese finance ministry

Expects fiscal revenue increase to pick up somewhat

Will ensure implementation of tax and fee cuts and evaluate its impacts

Once again, do be reminded that tomorrow we will get China Q3 GDP data and expectation is for the economy to have risen by 6.1% y/y for the third quarter. That will be one to watch for risk assets in case we do view any shocks before the end of the week.

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