MNI China Daily Summary: Monday, July 1

MNI BRIEF: PBOC To Borrow CGBs In Response To Market Situation

MNI BRIEF: Caixin June Manufacturing PMI Hits Three-year High

MNI: PBOC Net Drains CNY48 Bln Via OMO Mon; Rates Unchanged

CHINA PBOC CONDUCTS CNY2 BILLION VIA 7-DAY REVERSE REPOS MON

Bundesbank SA Suggests Core / Services Momentum Slowing

EZ/UK Bond Supply Calendar: UK, Germany Auction on Tuesday

EZ/UK T-Bill Calendar: Spain, Belgium, ESM Auction on Wednesday

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

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

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Biden Admin Announces New Sanctions On Chinese Biotech Over HR Abuses

US-CHINA

The Biden administration has announced a new set of sanctions against Chinese biotech firms for alleged human rights breaches with regards to the Uyghur community in Xinjiang province.

  • Sanctions had been rumoured for several days, hitting stocks of chip manufacturers and biotech firms.
  • Full Commerce Dep't press release on the sanctions can be found by clicking here.
  • Secretary of Commerce Gina Raimundo: "The scientific pursuit of biotechnology and medical innovation can save lives. Unfortunately, the PRC is choosing to use these technologies to pursue control over its people and its repression of members of ethnic and religious minority groups. We cannot allow U.S. commodities, technologies, and software that support medical science and biotechnical innovation to be diverted toward uses contrary to U.S. national security,”
  • Aamer Madhani at AP also writes "The Treasury Department is also set to issue penalties against several Chinese entities, according to a senior administration official who spoke on the condition of anonymity to discuss the soon-to-be-announced moves."
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