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MNI China Daily Summary: Monday, November 4

POLICY:China’s largest steel producing province Hebei saw its steel industry PMI reach 50.7 in October, up from September’s 45.7 and above the 50 mark for the first time in four months, the Hebei Metallurgical Industry Association said.

LIQUIDITY: The PBOC conducted CNY17.3 billion via 7-day reverse repos, with the rate unchanged at 1.50%. The operation led to a net drain of CNY224.3 billion after offsetting the maturity of CNY241.6 billion today, according to Wind Information.

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POLICY:China’s largest steel producing province Hebei saw its steel industry PMI reach 50.7 in October, up from September’s 45.7 and above the 50 mark for the first time in four months, the Hebei Metallurgical Industry Association said.

LIQUIDITY: The PBOC conducted CNY17.3 billion via 7-day reverse repos, with the rate unchanged at 1.50%. The operation led to a net drain of CNY224.3 billion after offsetting the maturity of CNY241.6 billion today, according to Wind Information.

Keep reading...Show less