MNI China Daily Summary: Friday, July 19

MNI BRIEF: China To Boost Consumer Spending, New Industries

MNI BRIEF: China Enhances Fiscal Response To Boost Economy

MNI BRIEF: China To Promote Migrates' Rights, Reform Hukou System

MNI: PBOC Net Injects CNY57 Bln Via OMO Fri; Rates Unchanged

MNI: PBOC Sets Yuan Parity Higher At 7.1315 Fri; -0.52% Y/Y

Intermediate PPI Deflation Continues To Fade in June

MNI: GERMANY JUNE PPI  +0.2 % M/M (+0.1% FCAST, 0.0% PRIOR)

Disappointing data but no market reaction

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

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Europe’s Gas Outlook Still Fragile: Snam CEO

NATGAS

Europe’s gas outlook remains fragile due to constrained global LNG capacity, rising Asian LNG demand and ongoing geopolitical tensions, Snam CEO Stefano Venier told Montel.

  • “We haven't seen clear implications from the Middle East crisis in the short term. “This situation might delay certain investment decisions in that area and in the future could play a significant role in the balancing, especially of Europe”, Venier said.
  • Italy will focus on long-term LNG supply agreements in the coming years rather than focussing on spot procurement, Venier said.
  • Italian natural gas demand will be similar or slightly above 2023 levels of 63bcm. Demand is expected to drop to 58bcm in 2030 and to 45-50bcm by 2040.
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