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China's 122.8t yuan headache underscored by equity swings

Wednesday, January 21, 2015 - 05:50
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Liquidity in China is springing up like a jack-in-the-box, driving property prices, then shifting to stocks, before moving on to whatever may be next.

Beijing

FOR China's central bank, the 36 per cent stock market rally through Jan 16 spurred in part by a surprise November interest-rate cut is the latest reminder that it's easier to unleash money than to guide it to the right places.

Since Zhou Xiaochuan became People's Bank of