Trial now

Risk-On Carries On


Late Trade, March Calls


Bounces Off Key Support


Oil Re-Couples With Equities On Lower Omicron Concern

Sign up now for free access to this content.

Please enter your details below and select your areas of interest.

The following lists highlights from Chinese press reports on Thursday:

  • Chinese Premier Li Keqiang called for "all-out" efforts to ensure coal production and transportation for heating, and continue to crack down on market speculation, the Global Times said citing a State Council meeting. The government vowed to increase gas supply and asked local authorities to keep gas and heating prices stable, the newspaper said. Officials from the country's top planning agency inspected major coal ports, storage and distribution centers and summoned energy companies to ensure coal supply for the winter, the newspaper said. Authorities approved three new mines in Northwest China's Gansu Province on Tuesday, it said. Daily coal output on Monday has exceeded 11.6 million tons, a new high this year. The Zhengzhou Commodity Exchange limited thermal coal futures contracts to curb soaring prices, it said.
  • The PBOC signaled its intention to ensure rising liquidity demanded by more local government bond sales, tax remissions and large maturing MLFs, even as the probability of RRR cuts has declined, the Shanghai Securities News reported citing market participants. The central bank injected CNY100 billion on Wednesday, the first time since the end of September when it for multiple days pumped CNY100 billion to ensure inter-season funding needs, the newspaper said. While the central bank kept LPRs unchanged on Wednesday, it may still lower the lending benchmark in Q4 by as much as 0.1 pp to spur the demand of the real economy and help SMEs, the newspaper said citing analyst Wang Qing of Golden Credit Rating.
  • The People's Bank of China will avoid risk contagion from the Evergrande Group to other developers and to the financial sector, as it is a single case and the spillover effect is generally controllable, said PBOC Governor Yi Gang during the G30 International Banking Seminar on Wednesday, according to a statement on the PBOC website. The central bank will ensure all the creditors and related parties' legal rights being treated fairly, as the PBOC is confident that it can limit the scope and avoid systemic risks, said Yi. Yi also expects rising PPI pressure to ease by the end of the year, though the figure may remain at a high level for the following months, the statement said.