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MNI (Sydney)

The following lists highlights from Chinese press reports on Thursday:

  • China's PPI will likely peak at over 5% y/y by June from 1.7% in February as increasing global vaccination lifts sentiments over the pandemic, exports grow and prices of commodities gain, the 21st Century Business Herald reported citing Zhao Wei, the chief economist with Kaiyuan Securities. The surging price of production is unlikely to move monetary policy unless CPI matches the gains, Zhao said. China recorded another negative CPI at -0.2% y/y in February. Inflation may reach 3% y/y in June, within government tolerance, the newspaper said citing Wang Qing, the chief analyst with Golden Credit Rating.
  • China's overall cost of lending, and in particular mortgage rates, may increase moderately this year as policymakers support innovation, SMEs and sustainability while curbing real estate and local government financing vehicles, the Securities Times reported citing Wang Qing, Chief macro analyst at Golden Credit Rating. Wang was interviewed following the PBOC's release of February loan data, which showed overall social financing increased by 1.71 trillion CNY. M2 and the scale of social financing will moderate to match nominal GDP growth, the official securities newspaper said citing chief researcher Wen Bin at Minsheng Bank.
  • China should force domestic industries and government departments to enact tough reforms to meet the stringent criteria of joining the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), said former Minister of Commerce Wei Jianguo in an interview with 21st Century Business Herald. China stands ready to start negotiations to join the CPTPP as well as free trade agreements with the E.U. and possibly with the U.S., Wei said.
MNI Sydney Bureau | +61-405-322-399 |
MNI Sydney Bureau | +61-405-322-399 |