UPDATE: Beijing Develops Plan to Counter Trump Tax Reform - WSJ

Beijing is developing a plan to combat consequences for China of U.S. tax changes and expected interest-rate increases by the Fed -- a double whammy sapping money out of China and making the U.S. a more attractive place to invest, according to the Wall Street Journal, citing people with knowledge of the matter.

Under the plan, the People's Bank of China may deploy tools including higher interest rates, tighter capital controls and more frequent currency intervention to keep money at home and support the yuan, the report said.

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