MNI BRIEF: Inflation Risks Now Shifted To Downside-BOE Ramsden

MNI: Goolsbee Says Stalled Inflation Means Wait Before Moving

MNI China Daily Summary: Friday, April 19

MNI BRIEF: China Hog Market More Balanced In Q2 - Ministry

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

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

MNI: BAKER HUGHES US RIG COUNT 619; OIL RIGS 511; GAS RIGS 106

EZ/UK Bond Supply Calendar: EU, UK Synd W/C 22 Apr, BoE APF Mon

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

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 Jan 19: MLF, Property, Tourism

MNI (BEIJING)
BEIJING (MNI)

MNI picks keys stories from today's China press

Policy NewsHomepageAPACChinaEM Policy NewsEM Policy StoryPolicy StoryStoryRegion
True

Highlights from Chinese press reports on Monday:

  • The People's Bank of China's MLF net investment of CNY1 billion this month was less than market expectations and indicates policymakers want to prevent capital arbitrage, according to Bruce Pang, chief China economist at Jones Lang LaSalle. Banks could still lower the LPR in the short term as market interest rates are lowered under central bank guidance, Pang added. Wang Qing, chief macro analyst of Oriental Jincheng said the MLF injection along with issuance of government bonds would help diffuse local debt risks. (Source: Yicai)
  • China’s home sales are expected to gradually recover in 2024 following the Spring Festival's poor performance, according to industry insiders. A major real-estate company saw average daily sales of less than CNY300 million versus CNY400 million in 2023, while another firm said overall performance was only 60% of last year, and believed China’s large increase in tourism this year had diverted attention away from home buying. According to the China Index Research Institute, the average daily transaction of new homes in 25 representative cities fell 27% versus last year’s festival. (Source: Yicai)
  • Chinese domestic tourists spent CNY632 billion on travel during the Spring Festival, up 47.3% y/y, and an increase of 7.7% on 2019 levels, according to calculations by the Ministry of Culture and Tourism. Tourists made 474 million trips during the Spring Festival, rising 34.3% y/y, and up 19.0% versus 2019. Red tourism was a hot spot, with the First Memorial Hall of the Communist Party of China and Zhou Enlai’s former residence in Jiangsu receiving large crowds. (Source: Yicai)
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 Monday:

  • The People's Bank of China's MLF net investment of CNY1 billion this month was less than market expectations and indicates policymakers want to prevent capital arbitrage, according to Bruce Pang, chief China economist at Jones Lang LaSalle. Banks could still lower the LPR in the short term as market interest rates are lowered under central bank guidance, Pang added. Wang Qing, chief macro analyst of Oriental Jincheng said the MLF injection along with issuance of government bonds would help diffuse local debt risks. (Source: Yicai)
  • China’s home sales are expected to gradually recover in 2024 following the Spring Festival's poor performance, according to industry insiders. A major real-estate company saw average daily sales of less than CNY300 million versus CNY400 million in 2023, while another firm said overall performance was only 60% of last year, and believed China’s large increase in tourism this year had diverted attention away from home buying. According to the China Index Research Institute, the average daily transaction of new homes in 25 representative cities fell 27% versus last year’s festival. (Source: Yicai)
  • Chinese domestic tourists spent CNY632 billion on travel during the Spring Festival, up 47.3% y/y, and an increase of 7.7% on 2019 levels, according to calculations by the Ministry of Culture and Tourism. Tourists made 474 million trips during the Spring Festival, rising 34.3% y/y, and up 19.0% versus 2019. Red tourism was a hot spot, with the First Memorial Hall of the Communist Party of China and Zhou Enlai’s former residence in Jiangsu receiving large crowds. (Source: Yicai)