MNI China Daily Summary: Wednesday, December 11

MNI BRIEF: Chinese Rail Passenger Numbers Break Record

MNI: PBOC Net Injects CNY37.3 Bln via OMO Wednesday

MNI: PBOC Sets Yuan Parity Lower At 7.1843 Weds; -1.22% Y/Y

MNI BRIEF: Brazil Not Even Close To Fiscal Dominance - David

CORRECTED-MNI BRIEF: Brazil Inflation Rises To 4.87% In Nov

MNI: US MBA: MARKET COMPOSITE +5.4% SA THRU DEC 06 WK

EZ/UK Bond Supply Calendar: 4.25% Jul-34 Gilt Due Wednesday

EZ/UK T-Bill Calendar: 12-Month BOT Auction on Wednesday

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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Hoyer: House To Vote On China Competition Bill Friday

US

House majority leader Steny Hoyer (D-MD) has confirmed that the House of Representatives will vote on its version of the Senate-passed US Innovation and Competition Act, a USD250bn package intended to boost US competitiveness in areas of high tech and related to national security, in particular the manufacture of microchips and semiconductors.

  • The House bill, known as the America Competes Act, keeps USD52bn of funding to boost semiconductor manufacture. However, it strips out around USD200bn of research funding for science and technological innovation.
  • House Republicans are seeking to obstruct the bill, which could make reconciling the bill with that passed by the Senate an even more laborious process. Rep. Steve Chabot (R-OH) stated that the bill “...is an attempt to look tough on China without taking any real action...This is a desperate political ploy in anticipation of the mid-terms.”
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