Investment Daily Note

The Chinese central bank has issued China International Payment System (CIPS) regulations, and the new payment system is expected to begin operation in early October, Reuters reported citing unnamed sources. he report continued that a total of 19 banks are issued the CIPS direct participant qualifications. The new cross-border renminbi clearing system is expected to further internationalization of renminbi.

China's electricity consumption growth would slow to 2% in 2015, the lowest since 1998, Economic Information Daily reported citing Wang Zhixuan, secretary general of China Electricity Council (CEC). We expect equities market sentiment to be continually dampened by slowing Chinese economic growth.