MNI China Daily Summary: Friday, April 26

MNI BRIEF: China, US Should Strengthen Dialogue, Cooperation

MNI BRIEF: SNB Framework Reform 'Playing With Fire' - Steiner

MNI: PBOC Conducts CNY2 Bln Via OMO Fri; Liquidity Unchanged

CHINA PBOC INJECTS CNY2 BILLION VIA 7-DAY REVERSE REPOS FRI

MNI: PBOC Sets Yuan Parity Lower At 7.1056 Fri; -4.56% Y/Y

Labour Market Continues Firming Despite Headline Unemployment Uptick

EZ/UK Bond Supply Calendar: Italy, EU Auctions, BoE APF Monday

MNI: ECB 1-YEAR CONSUMER INFLATION EXPECTATIONS 3%

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

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

MNI China Press Digest Feb 7: Yuan, Red Sea, Real Estate

MNI (Singapore)
MNI (Beijing)

MNI picks keys stories from today's China press

Policy NewsHomepageBond Market NewsAPACChinaPolicy StoryStoryRegion
True

Highlights from Chinese press reports on Wednesday:

  • More overseas long-term capital will buy the yuan should China’s stock market gradually rebound and the Chinese economy maintains a steady recovery, 21st Century Business Herald reported citing market insiders. The yuan strengthened against the rising U.S. dollar index which rebounded to 104.54 on Tuesday, due to the rally in Chinese stocks. Both onshore and offshore yuan regained the 7.2 level against the dollar while the Shanghai Composite Index surged 3.23%. The currency may fluctuate widely within the 6.9-7.3 range this year, as the expected Fed rate cuts in the second half will help ease the external pressure on yuan, said Ming Ming, chief economist of CITIC Securities.
  • China’s exporters could face a shortage of containers should the Red Sea crisis continue, according to Chen Youwei, director of Robinson International Freight, adding that current supply was sufficient but decreasing rapidly. The freight industry faces uncertainty from trade protectionism, geopolitical conflicts and El Niño phenomenon, Chen Yuanhan, vice president at Robinson International Freight added. (Source: Yicai)
  • All commercial banks must take the initiative to conduct timely reviews of recommended real-estate projects in the “whitelist” and accelerate credit approval to ensure that all reasonable financing needs are met, according to a statement by the National Administration of Financial Regulation on its website. Local financial regulatory bureaus must set up a special work team to proactively strengthen coordination with local governments and housing departments to promote the stable and healthy development of the real-estate market.
255 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 Wednesday:

  • More overseas long-term capital will buy the yuan should China’s stock market gradually rebound and the Chinese economy maintains a steady recovery, 21st Century Business Herald reported citing market insiders. The yuan strengthened against the rising U.S. dollar index which rebounded to 104.54 on Tuesday, due to the rally in Chinese stocks. Both onshore and offshore yuan regained the 7.2 level against the dollar while the Shanghai Composite Index surged 3.23%. The currency may fluctuate widely within the 6.9-7.3 range this year, as the expected Fed rate cuts in the second half will help ease the external pressure on yuan, said Ming Ming, chief economist of CITIC Securities.
  • China’s exporters could face a shortage of containers should the Red Sea crisis continue, according to Chen Youwei, director of Robinson International Freight, adding that current supply was sufficient but decreasing rapidly. The freight industry faces uncertainty from trade protectionism, geopolitical conflicts and El Niño phenomenon, Chen Yuanhan, vice president at Robinson International Freight added. (Source: Yicai)
  • All commercial banks must take the initiative to conduct timely reviews of recommended real-estate projects in the “whitelist” and accelerate credit approval to ensure that all reasonable financing needs are met, according to a statement by the National Administration of Financial Regulation on its website. Local financial regulatory bureaus must set up a special work team to proactively strengthen coordination with local governments and housing departments to promote the stable and healthy development of the real-estate market.