MNI: PBOC Net Drains CNY227 Bln via OMO Wednesday

MNI: PBOC Sets Yuan Parity Lower At 7.1934 Weds; -1.91% Y/Y

MNI BRIEF: Aussie Q3 GDP Prints At 0.3% Q/Q

MNI BRIEF: Fed's Goolsbee Sees Rates Down 'Fair Amount' In '25

MNI BRIEF: December Fed Cut 'Absolutely Not' Off Table - Daly

MNI China Daily Summary: Tuesday, Dec 3

MNI: AUSTRALIA Q3 GDP +0.3% Q/Q

EZ/UK T-Bill Calendar: Greece, EU Auction on Wednesday

EZ/UK Bond Supply Calendar: UK, Germany Auction on Wednesday

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

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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

MNI China Press Digest Dec 3: PBOC, CPI, M1

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 Tuesday:

  • The People’s Bank of China will keep monetary policy supportive in 2025, while increasing countercyclical regulation, maintaining reasonable liquidity and reducing financing costs for enterprises and residents, GovernorPan Gongsheng said at a recent forum. The central bank will use structural monetary policy tools, strengthen support for scientific and technological innovation, green and consumer finance, and promote the stable development of the real estate and capital market, Pan added. Since late September, authorities have implemented incremental policies aimed at reaching this year's expected economic goals.
  • Analysts expect China’s November CPI to grow moderately, ranging from 0.15% to 0.6% y/y, compared to October’s 0.3%, Securities Daily reported. Declining food prices amid better weather and supply, falling prices of crude oil, industrial raw materials, metals and other commodities will weigh down CPI, the newspaper said citing analysts. Sources predicted PPI in November would be between -2.09% to -3.0% y/y, compared to October’s -2.9%, given low ex-factory and raw material purchase prices sub-indices in the recent manufacturing PMI, and affected by weak global oil demand, the daily said, citing analysts. China is set to release the data next Monday.
  • The People's Bank of China will align with other central banks to include residential demand deposits and prepaid funds received by non-bank payment institutions into M1 calculations, starting in 2025, Xinhua News Agency reported. Given recent payment method developments, individuals can now use personal demand deposits for payment and transfer at any time without withdrawing cash. These deposits now have the same liquidity as corporate demand deposits and should therefore be included in M1, Xinhua reported, citing PBOC officials.
269 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 Tuesday:

  • The People’s Bank of China will keep monetary policy supportive in 2025, while increasing countercyclical regulation, maintaining reasonable liquidity and reducing financing costs for enterprises and residents, GovernorPan Gongsheng said at a recent forum. The central bank will use structural monetary policy tools, strengthen support for scientific and technological innovation, green and consumer finance, and promote the stable development of the real estate and capital market, Pan added. Since late September, authorities have implemented incremental policies aimed at reaching this year's expected economic goals.
  • Analysts expect China’s November CPI to grow moderately, ranging from 0.15% to 0.6% y/y, compared to October’s 0.3%, Securities Daily reported. Declining food prices amid better weather and supply, falling prices of crude oil, industrial raw materials, metals and other commodities will weigh down CPI, the newspaper said citing analysts. Sources predicted PPI in November would be between -2.09% to -3.0% y/y, compared to October’s -2.9%, given low ex-factory and raw material purchase prices sub-indices in the recent manufacturing PMI, and affected by weak global oil demand, the daily said, citing analysts. China is set to release the data next Monday.
  • The People's Bank of China will align with other central banks to include residential demand deposits and prepaid funds received by non-bank payment institutions into M1 calculations, starting in 2025, Xinhua News Agency reported. Given recent payment method developments, individuals can now use personal demand deposits for payment and transfer at any time without withdrawing cash. These deposits now have the same liquidity as corporate demand deposits and should therefore be included in M1, Xinhua reported, citing PBOC officials.