MNI: PBOC Net Drains CNY3.27 Bln via OMO Thursday

MNI: PBOC Sets Yuan Parity Higher At 7.1460; +0.41% Y/Y

CHINA PBOC CONDUCTS CNY7.1 BILLION VIA 7-DAY REVERSE REPOS THU

CHINA SETS YUAN CENTRAL PARITY AT 7.1460 THU VS 7.1386

MNI BRIEF: China FX Reserves Up 1.1% Since June

MNI BRIEF: China Iron-Ore Imports Up In July

July Summary Of Opinions Point To Further Gradual Policy Normalization

KPMG-REC Report on Jobs: Only Modest Easing In Permanent Wage Growth

MNI: US JUN CONSUMER CREDIT +$8.9B

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

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

MNI China Press Digest Aug 8: Exports, Yuan, Property

MNI (BEIJING)
BEIJING (MNI)

MNI picks keys stories from today's China press

Policy NewsHomepageAPACChinaEM Policy NewsEM Policy StoryPolicy StoryStoryRegion
True

Highlights from Chinese press reports on Thursday:

  • China’s export growth could slow down in H2 following the JPMorgan Global Manufacturing PMI, an external demand indicator, dropping to 49.7% in July from 50.8 in June, Feng Lin, director of research at Orient Jincheng, told 21st Century Business Herald. However, Feng expects August to show strong momentum due to low base effects. The EU increasing tariffs on China’s electric automobiles had not impacted exports, with worldwide shipments reaching 553,000 vehicles in July, up 12.9% m/m, Feng continued.
  • The yuan will likely continue rebounding in the coming months as international capital seeks safe havens amid violent fluctuations in global financial markets, Yicai.com reported, citing Wang Youxin, senior researcher at Bank of China Research Institute. The U.S. could increase tariffs during the November election causing more volatility and worsening the already complex external environment, analysts from Huatai Futures said. However, exporters who delayed foreign exchange settlement said the yuan is likely to depreciate during the upcoming import/export peak season.
  • Tier-one city Shenzhen has begun acquiring real-estate stock for conversion to affordable housing, with Beijing and Shanghai expected to follow soon, The Paper reported, citing Yan Yuejin, vice president at the E-house China Research Institution. City officials are prioritising entirely unsold apartment blocks with units under 65 square metres and located close to public transportation and living amenities. Yan noted first-tier cities have capacity to digest housing inventory given the large population inflow.
243 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 Thursday:

  • China’s export growth could slow down in H2 following the JPMorgan Global Manufacturing PMI, an external demand indicator, dropping to 49.7% in July from 50.8 in June, Feng Lin, director of research at Orient Jincheng, told 21st Century Business Herald. However, Feng expects August to show strong momentum due to low base effects. The EU increasing tariffs on China’s electric automobiles had not impacted exports, with worldwide shipments reaching 553,000 vehicles in July, up 12.9% m/m, Feng continued.
  • The yuan will likely continue rebounding in the coming months as international capital seeks safe havens amid violent fluctuations in global financial markets, Yicai.com reported, citing Wang Youxin, senior researcher at Bank of China Research Institute. The U.S. could increase tariffs during the November election causing more volatility and worsening the already complex external environment, analysts from Huatai Futures said. However, exporters who delayed foreign exchange settlement said the yuan is likely to depreciate during the upcoming import/export peak season.
  • Tier-one city Shenzhen has begun acquiring real-estate stock for conversion to affordable housing, with Beijing and Shanghai expected to follow soon, The Paper reported, citing Yan Yuejin, vice president at the E-house China Research Institution. City officials are prioritising entirely unsold apartment blocks with units under 65 square metres and located close to public transportation and living amenities. Yan noted first-tier cities have capacity to digest housing inventory given the large population inflow.