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CHINA: Country Wrap:  Signs of Property Market Stability. 

CHINA
  • According to a report in China’s Economic Information Daily, there are signs of stability in China’s property market with premiums for new land rising, following years of poor auction results.  (source: China Economic Information Daily)
  • China's main policies supporting sci-tech innovation and the development of the manufacturing industry saw tax cuts, fee reductions and tax refunds totaling 2.63 trillion yuan (about 366.75 billion U.S. dollars) in 2024, official data showed  (source: xinhua)
  • Hang Seng led the way today, thanks to optimism with Alibaba’s efforts to develop its own AI platform leading to the stock up over 40% in recent weeks and helping the index rise by +1.7% today, whilst other major bourses declined.   CSI 300 -0.17%, Shanghai -0.14%, Shenzhen -0.48%.
  • CNY: Yuan Reference Rate at 7.1719 Per USD; Estimate 7.3105
  • China’s CGB 10YR ground lower again in yield today to be at 1.63%. 
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  • According to a report in China’s Economic Information Daily, there are signs of stability in China’s property market with premiums for new land rising, following years of poor auction results.  (source: China Economic Information Daily)
  • China's main policies supporting sci-tech innovation and the development of the manufacturing industry saw tax cuts, fee reductions and tax refunds totaling 2.63 trillion yuan (about 366.75 billion U.S. dollars) in 2024, official data showed  (source: xinhua)
  • Hang Seng led the way today, thanks to optimism with Alibaba’s efforts to develop its own AI platform leading to the stock up over 40% in recent weeks and helping the index rise by +1.7% today, whilst other major bourses declined.   CSI 300 -0.17%, Shanghai -0.14%, Shenzhen -0.48%.
  • CNY: Yuan Reference Rate at 7.1719 Per USD; Estimate 7.3105
  • China’s CGB 10YR ground lower again in yield today to be at 1.63%.