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MNI: PBOC Sets Yuan Parity Higher At 7.0957 Tues; -4.95% Y/Y

CHINA PBOC INJECTS CNY2 BILLION VIA 7-DAY REVERSE REPOS TUES

CHINA SETS YUAN CENTRAL PARITY AT 7.0957 TUES VS 7.0938

MNI China Daily Summary: Monday, April 1

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UK Timeline of Key Events (All Times UK)

Eurozone Timeline of Key Events (BST)

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MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

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Chinese Airlines Set for Subsidies

JET FUEL

Chinese airlines are set to be offered subsidies from May 21 to July 20 to help airlines ride out the covid related demand destruction according to China’s chief financial officer today.

  • The subsidies will only be offered when the average daily number of domestic flights per week are lower or equal to 4500 flights and when average loads are lower than 75%.
  • The maximum grant is 24,000 yuan per hour to each loss-making flight.
  • A number of domestic flight routes in China are down over 90% because of strict domestic lockdown measures.
  • Domestic jet fuel demand has been crushed as a result along with demand for other transport fuels.
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