NORGES: RATES PROBABLY AT CURRENT LEVEL QUITE SOME TIME

RATES MAY NEED TO BE ON HOLD LONGER THAN ENVISIONED: NORGES

MNI: NORGES BANK LEAVES RATES UNCHANGED AT 4.50%

MNI WATCH: CNB Seen Cutting 50Bps to 5.25%, Signal Slower Pace

MNI China Daily Summary: Tuesday, April 30

MNI BRIEF: China To Keep Tackling Risks In Real Estate, Debts

MNI: BAKER HUGHES US RIG COUNT 605; OIL RIGS 499; GAS RIGS 102

BoE Data Watch

RBA Data Watch

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

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

MNI China Press Digest Apr 24: PBOC, Growth, Investment

MNI (Singapore)
MNI (Beijing)

MNI picks key stories from today's China press

Policy NewsHomepageCentral Bank NewsPBOCAPACChinaStoryBond Market NewsEM Policy NewsEM Policy StoryEM Central Bank NewsPeoples Bank of ChinaPolicy StoryRegion
True

Highlights from Chinese press reports on Wednesday:

  • The People’s Bank of China could use secondary market treasury trading for liquidity management and a reserve of monetary-policy tools, a novel approach compared to the quantitative easing (QE) seen from other developed economy central banks, the PBOC-run newspaper Financial News reported citing an unnamed official. China's treasury bond market has become the third-largest in the world and its liquidity has improved, making it possible for the central bank to carry out bond trading on the secondary market, the official said. China's long-term treasury bond yields, which have fallen recently, will move "within a reasonable range" in line with expected economic growth, the official added.
  • Policymakers should not relax after the economy's "good start" in Q1, and instead provide further macro support to strengthen the recovery, according to Guan Tao, former official at the State Administration of Foreign Exchange. Guan noted Q1 benefited from low base effects and authorities in future should prioritise a moderate recovery in prices and the real-estate market to stabilise expectations. Consumption recovered better than expected in Q1, but investment needed improvement, Guan added. (Source: Yicai)
  • China has completed water conservancy construction worth CNY193.3 billion in Q1, a rise of 4.4% y/y, hitting a historical high, Economic Information Daily reported citing the Ministry of Water Resources. There were 23,500 water conservancy projects implemented across the country in Q1, with a total investment value of CNY4.7 trillion, rising 15.8% and 12.3% y/y, the ministry said.
251 words

To read the full story

Close

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.

Highlights from Chinese press reports on Wednesday:

  • The People’s Bank of China could use secondary market treasury trading for liquidity management and a reserve of monetary-policy tools, a novel approach compared to the quantitative easing (QE) seen from other developed economy central banks, the PBOC-run newspaper Financial News reported citing an unnamed official. China's treasury bond market has become the third-largest in the world and its liquidity has improved, making it possible for the central bank to carry out bond trading on the secondary market, the official said. China's long-term treasury bond yields, which have fallen recently, will move "within a reasonable range" in line with expected economic growth, the official added.
  • Policymakers should not relax after the economy's "good start" in Q1, and instead provide further macro support to strengthen the recovery, according to Guan Tao, former official at the State Administration of Foreign Exchange. Guan noted Q1 benefited from low base effects and authorities in future should prioritise a moderate recovery in prices and the real-estate market to stabilise expectations. Consumption recovered better than expected in Q1, but investment needed improvement, Guan added. (Source: Yicai)
  • China has completed water conservancy construction worth CNY193.3 billion in Q1, a rise of 4.4% y/y, hitting a historical high, Economic Information Daily reported citing the Ministry of Water Resources. There were 23,500 water conservancy projects implemented across the country in Q1, with a total investment value of CNY4.7 trillion, rising 15.8% and 12.3% y/y, the ministry said.