China Headlines:

1. NDRC Arranged another RMB100bn Investment Fund to boost Domestic Demand. (Securities Times)  

2. Premier Wen addressed in the State Council Meeting calling for a healthy and stable development of the property market.

3. China to launch tax reform to boost growth in 2009 （Securities Times）

4. People's Bank of China to Strengthen Lending `Guidance,' Ensure Liquidity China's central bank said it will ensure liquidity in the financial system and strengthen ``guidance'' so that bank lending goes to key projects and smaller businesses. (Bloomberg)

5. National Bureau of Stats: Oct. PPI up 6.6% yoy, down 2.5%mom which exceeds earlier expectations. (China Securities News)
   Citic Macro Analyst predicts Nov. PPI would drop to 4%

6. No Time Table for the Ping An Refinance Plan , according to insiders.