Made in China:Stgy,US-China Cooperation;Init Huarong w/Hold;Banks,Gas,HK Property

The US-China working group on the 100-day plan issued a joint press release . It provides details on some deals reached so far to address trade imbalance. These deals will not materially resolve the imbalance, but they indicate the two countries are indeed trying to cooperate with each other. We therefore believe the chance for a full fledged US-China trade war has declined. We wonder if other countries would also push China for trade concessions in the same way. (Zhiwei Zhang - 852 2203 8308)