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CHINA: Country Wrap: Economists Stay Positive on China's Economy

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  • According to CCTV News, the China Association of Small and Medium Enterprises announced today (11th) that China's SME Development Index in January was 89.0, up 0.1 points from December last year. Data from the China Association of Small and Medium Enterprises showed that the market demand for small and medium-sized enterprises improved steadily in January. The data also showed that the macroeconomic perception and industry situation perception index of small and medium-sized enterprises in January both rose by 0.3 points compared with December last year, showing that small and medium-sized enterprises have a positive outlook for future development.  (source: Yicai.com).
  • Confidence in China's economic prospects remained upbeat this month, as chief economists surveyed by Yicai expect the effects of government stimulus policies to become more apparent as they are gradually implemented.  The Yicai Chief Economists Confidence Index came in at 50.62 for February, down from 50.66 in January and 50.72 in December but remaining above the contraction-expansion threshold of 50 for the fifth straight month. Yicai polled 11 leading China-based chief economists. (source: Yicai.com)
  • China’s major bourses were lower today as President Trump signing tariffs on steel and aluminium imports as he indicated that autos, chips and pharmaceuticals were next in his sights.
  • The Hang Seng lead the way lower down -0.59%, with the CSI 300 down -0.36%, Shanghai Comp down -0.16% and Shenzhen down -0.31%
  • Taiwan’s TAIEX bucked the trend rising +0.20% today.
  • CNY:  Yuan Reference Rate at 7.1716 Per USD; Estimate 7.3072
  • Bonds:  yesterday’s selloff was short lived with the grind lower in yield resuming, CGB 10YR 1.62% (-1bp today). 
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  • According to CCTV News, the China Association of Small and Medium Enterprises announced today (11th) that China's SME Development Index in January was 89.0, up 0.1 points from December last year. Data from the China Association of Small and Medium Enterprises showed that the market demand for small and medium-sized enterprises improved steadily in January. The data also showed that the macroeconomic perception and industry situation perception index of small and medium-sized enterprises in January both rose by 0.3 points compared with December last year, showing that small and medium-sized enterprises have a positive outlook for future development.  (source: Yicai.com).
  • Confidence in China's economic prospects remained upbeat this month, as chief economists surveyed by Yicai expect the effects of government stimulus policies to become more apparent as they are gradually implemented.  The Yicai Chief Economists Confidence Index came in at 50.62 for February, down from 50.66 in January and 50.72 in December but remaining above the contraction-expansion threshold of 50 for the fifth straight month. Yicai polled 11 leading China-based chief economists. (source: Yicai.com)
  • China’s major bourses were lower today as President Trump signing tariffs on steel and aluminium imports as he indicated that autos, chips and pharmaceuticals were next in his sights.
  • The Hang Seng lead the way lower down -0.59%, with the CSI 300 down -0.36%, Shanghai Comp down -0.16% and Shenzhen down -0.31%
  • Taiwan’s TAIEX bucked the trend rising +0.20% today.
  • CNY:  Yuan Reference Rate at 7.1716 Per USD; Estimate 7.3072
  • Bonds:  yesterday’s selloff was short lived with the grind lower in yield resuming, CGB 10YR 1.62% (-1bp today).