Thanks to the PBOC's overvaluation of the Chinese Yuan, made twice as costly by spending China's hard earned dollar reserves to buy up the Yuans with. Time to sell the worst money-losing SOE of China to the Bank of Japan as its loyal and faithful subsidiary.
The transfer of export revenues from China's manufacturing sector to the Japanese manufacturing sector runs in the hundreds of billions of dollars each year, due to the overvaluation of the Yuan by the PBOC. It is time to spin off the PBOC to the BOJ which it has been serving faithfully for the past four and a half years. It is the worst SOE that China has ever created.