Unless you are an aficionado of the great moments of Chinese Communist history, you probably won't have heard of Wuhan (it is the site of Chairman Mao's legendary swim across the Yangtze).
But perhaps more than any other Chinese city, it tells the story of how China's remarkable three decades of modernisation and enrichment, its economic miracle, is apparently drawing to a close, and why there is a serious risk of a calamitous crash.
In Wuhan I interviewed a mayor, Tang Liangzhi, whose funds and power would make London's mayor, Boris Johnson, feel sick with envy. He is spending £200bn over five years on a redevelopment plan whose aim is to make Wuhan - which already has a population of 10 million - into a world mega city and a serious challenger to Shanghai as China's second city.
The rate of infrastructure spending in Wuhan alone is comparable to the UK's entire expenditure on renewing and improving the fabric of the country. In this single city, hundreds of apartment blocks, ring roads, bridges, railways, a complete subway system and a second international airport are all being constructed.
Could China's economy be about to "stall", they appear to be stomping hard on the breaks!
http://www.bbc.co.uk/news/business-26236593
China's central bank has removed nearly $8bn (£4.7bn) from the money markets in a bid to control the amount of credit in the country's financial system.
According to reports, the People's Bank of China (PBOC) did so by issuing 14-day forward bond repurchase agreements, also known as forward repos.
It is the first time since June the PBOC has used forward repos, and comes after China released unusually strong economic data earlier this year.
Chinese stocks fell in Shanghai.
A trader at a Chinese commercial bank in Shanghai told the Reuters news agency that the move "sent a strong signal to the markets that the central bank is not letting liquidity ease".