MNI China Daily Summary: Thursday, July 25

MNI BRIEF: Japan Govt Keeps Econ View, Cuts Exports

MNI: PBOC Conducts CNY200 Bln via MLF Thurs; Rate Cut

MNI: PBOC Sets Yuan Parity Lower At 7.1321 Thurs; -1.92% Y/Y

CHINA PBOC CONDUCTS CNY235.1 BILLION VIA 7-DAY REVERSE REPOS THURS

CHINA SETS YUAN CENTRAL PARITY AT 7.1321 THURS VS 7.1358

CBI Price Expectations for Three Months Ahead Lowest Since December 2020

MNI: UK JUL CBI INDUSTRIAL TRENDS TOTAL ORDERS -32

Broad-Based IFO Weakness Reinforces Narrative of Recovery Stall

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

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Industry Group Says China Energy Deal Risks Monopoly

PERU
  • A Peruvian industry group said on Tuesday that a major Chinese deal to buy two local power suppliers would hand the China a near monopoly over the sector in Peru, particularly in and around populous capital Lima. (Reuters)
  • Italy's biggest utility Enel said on Friday it had agreed to sell its equity stakes in the two Peruvian assets for $2.9 billion to China's state-owned Southern Power Grid International (CSGI), which will still require regulatory approval.
  • Under the agreement, Enel's Peruvian subsidiary will sell its entire stake of 83.15% in power distribution and supply company Enel Distribucion Peru and 100% of Enel X Peru, which provides advanced energy services. The two firms generate and supply electricity for just over half the population of Lima, as well as other parts of the Andean nation, according to data from the national statistics institute and Enel.
  • "If approved, it would lead to a concentration of 100% of Lima's electricity distribution market in the hands of the People's Republic of China," the Peruvian National Society of Industries, a chamber of private companies, said in a statement. The group have called on the domestic antitrust agency, INDECOPI, to closely scrutinize the deal.
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