MNI China Daily Summary: Thursday, July 25

MNI BRIEF: Japan Govt Keeps Econ View, Cuts Exports

MNI: PBOC Conducts CNY200 Bln via MLF Thurs; Rate Cut

MNI: PBOC Sets Yuan Parity Lower At 7.1321 Thurs; -1.92% Y/Y

CHINA PBOC CONDUCTS CNY235.1 BILLION VIA 7-DAY REVERSE REPOS THURS

CHINA SETS YUAN CENTRAL PARITY AT 7.1321 THURS VS 7.1358

CBI Price Expectations for Three Months Ahead Lowest Since December 2020

MNI: UK JUL CBI INDUSTRIAL TRENDS TOTAL ORDERS -32

Broad-Based IFO Weakness Reinforces Narrative of Recovery Stall

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

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Azerbaijan Needs Long-Term Gas Deals to Boost EU Exports

NATURAL GAS

Azerbaijan needs buyers to commit to at least ten years in order to increase natural gas exports to Europe, Socar VP Elshad Nasirov said, cited by Interfax.

  • Companies are not ready to sign contracts for more than 10 years as most European buyer want to stop buying gas by the time the fuel won’t be allowed to be used in Europe, Nasirov said.
  • One other issue is that European banks “are not enthusiastic” about funding projects to increase the capacity of pipeline Azeri gas to Europe, he added.
  • Azerbaijan was planning to double natural gas exports to Europe by 2027 but the country has so far failed to secure needed long-term contracts, sources said earlier this month.
  • Europe imported 7.6bcm of gas in the first eight months of this year.
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