China puts stability ahead of debt control - AFR

The Australian Financial Review (AFR) out with a latest piece on rising concerns amongst the Chinese authorities on the sudden China slowdown.

Key Points:

China's authorities are increasingly worried by stress in the country's financial system and the sudden slowdown in economic growth

Fearing that it may now be too dangerous to press ahead with their draconian crackdown on shadow banking

The People's Bank (PBOC) began signalling late last week that it would soften its assault on the credit markets, shifting to pro-growth and efforts to prevent a liquidity shock before November's Communist Party Congress

Premier Li Keqiang has since told the International Monetary Fund that regulatory overkill would be a mistake at this delicate time

The state media says "financial stability" is now a greater priority than debt control