MNI China Daily Summary: Friday, January 17

MNI BRIEF: UK To Delay Implementation of Basel 3.1 Until 2027

MNI: UK DEC RETAIL SALES EX-FUEL -0.6% M/M, 2.9% Y/Y

MNI BRIEF: NBS Notes Favourable Conditions For China CPI

MNI BRIEF: China's Q4 GDP Grow By 5.4%, Meeting 2024 Target

MNI: PBOC Net Injects CNY100.5 Bln via OMO Friday

EZ/UK T-Bill Calendar: Germany, Netherlands, France Due Monday

MNI: EUROZONE DEC FINAL HICP +0.4% M/M, +2.4% Y/Y

MNI: UK DEC RETAIL SALES -0.3% M/M, +3.6% 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 Jan 17: Yuan, Sino-U.S., Industrial

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 Friday:

  • Over 73% of 60 economists surveyed by Securities Times expect the yuan to mostly trade within 7.3-7.5 against the U.S. dollar in the first half of 2025, while 18% expect a range of 7.1-7.3, the newspaper reported. Economists believe the central bank has a sufficient toolbox and rich experience to deal with yuan depreciation and can maintain the currency's stability at an equilibrium, the Times said.
  • President Xi Jinping’s special representative, Vice President Han Zheng, will attend the inauguration ceremony of President-elect Donald Trump on Jan 20 in Washington, following the U.S.'s invitation, according to a statement on the Ministry of Foreign Affairs website. China stands ready to work with the new U.S. government to enhance dialogue, manage differences, expand mutually beneficial cooperation, and pursue a stable, healthy and sustainable relationship, the statement said.
  • Guangdong, Shandong and Hunan provinces will aim to achieve 6% y/y or above in industrial production growth in 2025, as major regions continue to shoulder the responsibility of ensuring stable growth of the industrial economy in the face of increased uncertainties, Yicai.com reported. Local governments are required to take into account the transformation of traditional industries, the development of emerging industries and the layout of future industries, the newspaper said. Industrial production is expected to grow about 5.7% in 2024, according to the prediction of the Ministry of Industry and Information Technology.
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MNI (BEIJING) - Highlights from Chinese press reports on Friday:

  • Over 73% of 60 economists surveyed by Securities Times expect the yuan to mostly trade within 7.3-7.5 against the U.S. dollar in the first half of 2025, while 18% expect a range of 7.1-7.3, the newspaper reported. Economists believe the central bank has a sufficient toolbox and rich experience to deal with yuan depreciation and can maintain the currency's stability at an equilibrium, the Times said.
  • President Xi Jinping’s special representative, Vice President Han Zheng, will attend the inauguration ceremony of President-elect Donald Trump on Jan 20 in Washington, following the U.S.'s invitation, according to a statement on the Ministry of Foreign Affairs website. China stands ready to work with the new U.S. government to enhance dialogue, manage differences, expand mutually beneficial cooperation, and pursue a stable, healthy and sustainable relationship, the statement said.
  • Guangdong, Shandong and Hunan provinces will aim to achieve 6% y/y or above in industrial production growth in 2025, as major regions continue to shoulder the responsibility of ensuring stable growth of the industrial economy in the face of increased uncertainties, Yicai.com reported. Local governments are required to take into account the transformation of traditional industries, the development of emerging industries and the layout of future industries, the newspaper said. Industrial production is expected to grow about 5.7% in 2024, according to the prediction of the Ministry of Industry and Information Technology.