MNI China Daily Summary: Thursday, April 25

MNI BRIEF: China Opposes Accusations Of Overcapacity - MofCom

MNI: PBOC Conducts CNY2 Bln Via OMO Thurs; Liquidity Unchanged

CHINA PBOC INJECTS CNY2 BILLION VIA 7-DAY REVERSE REPOS THURS

MNI: PBOC Sets Yuan Parity Higher At 7.1058 Thurs; -4.80% Y/Y

CHINA SETS YUAN CENTRAL PARITY AT 7.1058 THURS VS 7.1048

France Manufacturing Sentiment Reverses Year-To-Date Gains

MNI: FRANCE APR MANUF SENTIMENT AT 100

US Treasury Auction Calendar

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

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

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Italian PM Meloni Accepts President Xi's Invite To Visit China-RTRS

CHINA-EU

Reuters reporting that according to an Italian gov't statement Prime Minister Giorgia Meloni has accepted an offer from Chinese President Xi Jinping for her to visit China. Comes after a meeting between the two at the G20 summit in Bali, Indonesia.

  • Statement says that during the meeting Meloni told Xi that Italy wants to increase its level of exports to China. Also stated that Meloni agreed with Xi that 'diplomatic initiatives are required to end the Ukraine war and prevent further escalation'.
  • Meloni set to become the third major European leader to visit China in a relatively short period of time. German Chancellor Olaf Scholz visited Beijing earlier in November. French President Emmanuel Macron said in a presser at the G20 that he intends to visit China in 'early 2023'.
  • The invite to Meloni comes as China hawks in the west, notably the US, tread a narrow path in relations w/Beijing. Many European states see China as an important potential mediator in getting Russia to step back in war on Ukraine. However, Washington, D.C., still sees China as a major strategic competitor. Will be concern in Biden administration at senior EU leaders heading to Beijing one after another.
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