China Daily Oil Summary:

Planned refined oil exports from China in September currently stand at 3.96m mt, according to an OilChem survey, with some state-owned refinery ramping up the export plans on lucrative export profits and adequate quotas.

• The ration of actual to planned exports in August was 129.5% according to OilChem. China continues to experience booming export profits and is benefiting from the timely release of its export quotas.
• Sep-25: Chinese travel is set for another demand boost as the Golden Week holiday is set to arrive at the end of the week spanning September 29 - October 6 with more than 21 million people are expected to take flights in the space of eight days.
• YUAN: The currency strengthened to 7.3019 against the dollar from 7.3109 on Monday. The PBOC set the dollar-yuan central parity rate flat at 7.1727. The fixing was estimated at 7.3133 by Bloomberg survey today.
• With the signalled improvement in the economic outlook, rates crept higher. The MNI China 7-Day Repo Rate Index rose to 47.4 in September, compared with 26.9 in August, while the MNI China 10-year CGB Yield Index read 39.7, up from 34.6. previously.
• China’s Q3 GDP growth is estimated to reach above 4.6%, slower than Q2’s 6.3%, as the higher comparison base for the same period last year kicks in, Securities Times reported citing the average forecast by eight economists. The economy will likely further recover in Q4 as consumption growth accelerates amid the Golden Week holiday and two major online shopping festivals.