MNI China Daily Summary: Friday, December 20

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MNI: BANXICO CUTS RATES BY 25BPS TO 10.0% AS EXPECTED

MNI BRIEF: Fed To Expand SRF Around Year-End Market Pressures

MNI: FRANCE NOV PPI +3.2% M/M, -5.2% Y/Y

MNI: GERMANY NOV PRODUCER PRICES +0.1% Y/Y

MNI: SWEDEN NOV RETAIL SALES +1.6% Y/Y

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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MNI China Press Digest Dec 20: Fiscal, Energy, Economy

MNI picks keys stories from today's China press
Central Bank NewsPolicy NewsPBOCHomepageAPACChinaEM Policy NewsEM Central Bank NewsPeoples Bank of ChinaPolicy StoryStoryRegion

Highlights from Chinese press reports on Friday:

  • China’s plans for a more proactive fiscal policy will drive an increase in government bond issuance, quicker allocation of fiscal funds and structural changes to improve public welfare and boost consumption, the state-run Xinhua News Agency reported, citing Liu Rihong, an official at the State Council Research Office. Authorities can reduce household hesitation to consume through increased investment in public services and improving the supply of entertainment, sports, elderly and child-care services, Li added.
    China’s total electricity consumption reached 785 billion kWh in November, up 2.8 y/y and slower than the 7.1% growth during the first 11 months, according to National Energy Administration data. Last month, electricity consumption from primary, secondary and tertiary industries went up 7.6%, 2.2% and 4.7%, while household consumption edged up 2.9% y/y, the administration said. From January to November, primary, secondary and tertiary industry demand increased 6.8%, 5.3% and 10.4%, with household appetite up 11.6%.
    The Chinese economy is expected to grow about 5% in 2025 amid increased countercyclical adjustments and base effects, Securities Daily reported, citing analysts. Authorities will support growth by coordinating an expansion in government debt with reserve requirement ratio and interest-rate cuts, the newspaper said, citing Li Zhan, chief economist at China Merchants Fund, who noted the government could access reserve policies to deal with uncertain events next year.
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Highlights from Chinese press reports on Friday:

  • China’s plans for a more proactive fiscal policy will drive an increase in government bond issuance, quicker allocation of fiscal funds and structural changes to improve public welfare and boost consumption, the state-run Xinhua News Agency reported, citing Liu Rihong, an official at the State Council Research Office. Authorities can reduce household hesitation to consume through increased investment in public services and improving the supply of entertainment, sports, elderly and child-care services, Li added.
    China’s total electricity consumption reached 785 billion kWh in November, up 2.8 y/y and slower than the 7.1% growth during the first 11 months, according to National Energy Administration data. Last month, electricity consumption from primary, secondary and tertiary industries went up 7.6%, 2.2% and 4.7%, while household consumption edged up 2.9% y/y, the administration said. From January to November, primary, secondary and tertiary industry demand increased 6.8%, 5.3% and 10.4%, with household appetite up 11.6%.
    The Chinese economy is expected to grow about 5% in 2025 amid increased countercyclical adjustments and base effects, Securities Daily reported, citing analysts. Authorities will support growth by coordinating an expansion in government debt with reserve requirement ratio and interest-rate cuts, the newspaper said, citing Li Zhan, chief economist at China Merchants Fund, who noted the government could access reserve policies to deal with uncertain events next year.