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Policy
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Global Macro
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessMNI China Press Digest Feb 15: Real Estate, Growth, Spending
Highlights from Chinese press reports on Wednesday:
- Migrant workers returning to their hometowns will aid the real estate market recovery in 2023 as local governments promote policies to stimulate demand, according to the 21st Century Business Herald. The paper referenced several real estate exhibitions held during the Spring Festival, with authorities offering multiple incentives such as low down-payments and large discounts. The release of pent up demand following the easing of Covid controls, ongoing urbanisation, and migrant workers returning to their hometowns to settle were factors benefiting the property market recovery in lower tier cities, according to the paper.
- Recent high-frequency data shows China’s economic recovery is gaining strength, which lays a good foundation for the economy in 2023, according to Shanghai Securities News. From January 30 to February 5, offline sales revenue for home appliances were up 41% y/y, and online sales up 158%. The paper said traffic and mobility flows in areas surrounding 100 leading incubators increased 17% in January m/m and 8.5% y/y, showing a rebound in the start-up sector. Job vacancies in the top 80 cities were up 14.3% m/m, according to the paper.
- More policy stimulus is needed to convert excess savings into consumption, as January saw retail deposits increase, according to the Securities Times Network. Bank deposits increased by CNY1.6 trillion in January, as residents remain wary of the economic recovery, volatile stock prices, and a depressed real estate sector, the paper said. In order to convert savings into consumption, greater use of spending vouchers should be used to stimulate demand for consumer products and automobiles. Looser monetary conditions would increase the value of the stock market and boost confidence. Finally, increasing social security in the form of pensions, medical treatment and education is needed to reduce the high savings culture in China.
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.