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MNI China Press Digest Dec 30: Yuan, Housing, Logistics

MNI picks key stories from today's China press.
Central Bank NewsPolicy NewsPBOCHomepageAPACChinaEM Policy NewsChinaEM Central Bank NewsPeoples Bank of ChinaGlobalStoryRegion

MNI (BEIJING) - Highlights from Chinese press reports on Monday:

  • The yuan will likely fluctuate between 7.1-7.3 against the U.S. dollar in 2025, as Chinese authorities are expected to keep the currency from overshooting should it temporarily fall below 7.3, National Business Daily reported Monday citing traders. The increasing use of yuan in cross-border trade and investment settlement will alleviate the volatility, and more companies are using forex derivatives to hedge the risk of yuan correction, weakening the "herd effect" of betting on one-way movement, the newspaper said. China's high-level forex reserves also provide strong support, acting as a deterrence against speculation, the newspaper added.
  • Home purchase restrictions in major cities are expected to be further relaxed next year, with housing mortgage rates likely to fall, Securities Daily said in a commentary. Authorities will quicken de-stocking in the housing market by giving local authorities more flexibility in buying up unsold homes for affordable housing in terms of acquisition entities and prices, the newspaper said. Revitalising commercial and office buildings, as well as boosting credit supply to white-listed housing projects to ensure delivery are also necessary, the newspaper said.
  • Logistics volumes across China grew for a second consecutive month, up by 0.1 percentage point in November from October as pro-growth policies kicked in, Economic Information Daily reported, citing data by China Federation of Logistics & Purchasing. Industrial logistics demand rebounded significantly, while the growth of consumption logistics remains strong, the newspaper said. The total revenue of the logistics industry expanded for three consecutive months, with Jan-Nov revenue growing by 4% y/y to CNY12.5 trillion, the daily said.
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MNI (BEIJING) - Highlights from Chinese press reports on Monday:

  • The yuan will likely fluctuate between 7.1-7.3 against the U.S. dollar in 2025, as Chinese authorities are expected to keep the currency from overshooting should it temporarily fall below 7.3, National Business Daily reported Monday citing traders. The increasing use of yuan in cross-border trade and investment settlement will alleviate the volatility, and more companies are using forex derivatives to hedge the risk of yuan correction, weakening the "herd effect" of betting on one-way movement, the newspaper said. China's high-level forex reserves also provide strong support, acting as a deterrence against speculation, the newspaper added.
  • Home purchase restrictions in major cities are expected to be further relaxed next year, with housing mortgage rates likely to fall, Securities Daily said in a commentary. Authorities will quicken de-stocking in the housing market by giving local authorities more flexibility in buying up unsold homes for affordable housing in terms of acquisition entities and prices, the newspaper said. Revitalising commercial and office buildings, as well as boosting credit supply to white-listed housing projects to ensure delivery are also necessary, the newspaper said.
  • Logistics volumes across China grew for a second consecutive month, up by 0.1 percentage point in November from October as pro-growth policies kicked in, Economic Information Daily reported, citing data by China Federation of Logistics & Purchasing. Industrial logistics demand rebounded significantly, while the growth of consumption logistics remains strong, the newspaper said. The total revenue of the logistics industry expanded for three consecutive months, with Jan-Nov revenue growing by 4% y/y to CNY12.5 trillion, the daily said.