-
Policy
Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM POLICY: -
EM Policy
EM Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM EM POLICY: -
G10 Markets
G10 Markets
Real-time insight on key fixed income and fx markets.
Launch MNI PodcastsFixed IncomeFI Market AnalysisCentral Bank PreviewsFI PiFixed Income Technical AnalysisUS$ Credit Supply PipelineGilt Week AheadGlobal IssuanceEurozoneUKUSDeep DiveGlobal Issuance CalendarsEZ/UK Bond Auction CalendarEZ/UK T-bill Auction CalendarUS Treasury Auction CalendarPolitical RiskMNI Political Risk AnalysisMNI Political Risk - US Daily BriefMNI Political Risk - The week AheadElection Previews -
Emerging Markets
Emerging Markets
Real-time insight of emerging markets in CEMEA, Asia and LatAm region
-
Commodities
Commodities
Real-time insight of oil & gas markets
-
Credit
Credit
Real time insight of credit markets
-
Data
-
Global Macro
Actionable insight on monetary policy, balance sheet and inflation with focus on global issuance. Analysis on key political risk impacting the global markets.
Global MacroCentral Bank PreviewsCentral Bank ReviewsBalance Sheet AnalysisData AnalysisEurozone DataUK DataUS DataAPAC DataInflation InsightEmployment InsightGlobal IssuanceEurozoneUKUSDeep DiveGlobal Issuance Calendars EZ/UK Bond Auction Calendar EZ/UK T-bill Auction Calendar US Treasury Auction Calendar Chart Packs -
About Us
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
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.
Real-time Actionable Insight
Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessMNI China Daily Summary: Tuesday, December 14
LIQUIDITY: The People's Bank of China (PBOC) injected CNY10 billion via 7-day reverse repos with the rate unchanged at 2.2%. This keeps the liquidity unchanged after offsetting the maturity of CNY10 billion repos today, according to Wind Information. The operation aims to keep liquidity reasonable and ample, the PBOC said on its website.
RATES: The seven-day weighted average interbank repo rate for depository institutions (DR007) increased to 2.2071% from Monday's close of 2.1768%, Wind Information showed. The overnight repo average rose to 2.1716% from 2.1082% on Monday.
YUAN: The currency weakened to 6.3634 against the dollar from Monday's close of 6.3631. The PBOC set the dollar-yuan central parity rate higher at 6.3675, compared with 6.3669 set on Monday.
BONDS: The yield on 10-year China Government Bonds was last at 2.8900%, down from Monday's close of 2.9050%, according to Wind Information.
STOCKS: The Shanghai Composite Index edged down 0.53% to 3,661.53, while the CSI300 index fell 0.67% to 5,049.70. The Hong Kong's Hang Seng Index lost 1.33% to 23,635.95.
FROM THE PRESS: The PBOC is likely to introduce certain monetary easing early next year to boost growth and switch to moderate tightening if the economy gets stronger in H2, emphasizing the “flexibility” of the monetary policy, the Economic Information Daily reported citing analysts. There will be a window for RRR cuts and interest rate cuts in 2022 considering the growth pressure, the daily said citing Wen Bin, chief researcher of China Minsheng Bank. Structural monetary policy tools such as carbon emission reduction support and SME refinancing will play an important role next year in guiding credit to areas with potential for quality development, the newspaper said.
China’s proactive fiscal policy should focus on building green investment momentum through directing fiscal resources and structural monetary policy tools to guide funds to green, low carbon and technological innovation, the Economic Daily reported citing Zeng Gang, deputy director of the National Institution for Finance & Development. The key of proactive fiscal policy next year is to maintain a level of fiscal spending and start infrastructure investment early as well as implement new tax and fee cuts to stabilize the economy, the newspaper said citing Feng Qiaobin, deputy director of the Macroeconomic Research Department of the Development Research Center of the State Council.
China needs to break the blockade that the U.S. and its allies are building that prevents China’s participation in global technological projects, the Global Times said following a media report that the U.S. along with Japan and Australia will fund an undersea communication cable connecting three Pacific countries, after pressuring them to force a Chinese company to scuttle an earlier bid and counter China's influence in the region. China must focus on upgrading its future manufacturing development, link closer with ASEAN manufacturing sectors, consolidate the needs under the RCEP that it helped create, push Belt & Road infrastructure projects and boost assistance to smaller developing countries, said the government-run newspaper.
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
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.