China is officially not a currency manipulator, as decided by the deficit printer known as the US Government.
Bullish, especially with the renminbi at record highs and the stock market in the throes of 2009 with P/E’s lower than Hong Kong? Maybe, but keep in mind that the yuan is at a record high. It might still help import Japanese components, but not much else.
Keep an eye on the yuan exchange rate, especially if Europe keeps finding ways to keep the euro suppressed. Remember, this exchange rate is impacting the more important trading partner to China.
And keep buying into Hong Kong.