Free Trial
LOOK AHEAD

Eurozone Timeline of Key Events (Times GMT)

GILT TECHS

(Z2) Trend Needle Points North

US TSYS

Light Twist Flattening In Pre-CPI Asia Trade

GBPUSD TECHS

Resistance Remains Exposed

SCHATZ TECHS

(Z2) Bearish Focus

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access
MNI (Sydney)

The following lists highlights from Chinese press reports on Wednesday:

China's fiscal expenditure will rise in H2 as revenues increase, helping speed up infrastructure construction and investment and further assisting recovery in the manufacturing sector and among SMEs, the China Securities Journal reported citing analysts. Spending in H1 fell 5.8% y/y, below the growth target of 3.8% for this year set by the government, leaving space for more proactive fiscal policies in H2, the newspaper said citing Zhu Jianfang, chief economist of CITIC Securities. New local government special bonds and special Treasury bonds issued in Q2 and Q3 will be used mainly in H2, the newspaper said citing Wang Qing, chief macro analyst at Golden Credit Rating.

The PBOC is studying the scale of online consumer loans jointly issued by banks and fintech companies such as Ant Financial, seeking to gauge current balances, average interest rates and non-performing rates so it can formulate corresponding measures, the Beijing Business Today reported. A total of 24 banks received requests from the PBOC's Survey and Statistics Department yesterday to report their co-lending with Ant Financial, the newspaper said. China's joint-lending market has reached about CNY2 trillion, involving hundreds of banks, and Ant Financial has more than half of the market, the newspaper said.

China's growth rate this year will be over 3% with ample room for further fiscal support if necessary, the 21st Century Business Herald reported. Citing Lin Yifu, the Dean of the National School of Development at Peking University, the Herald's report said total debt raised by the central and local governments, including implicit debts, accounts for less than 60% of GDP, while the ratios of most developed countries exceed 100%.

MNI Sydney Bureau | +61-405-322-399 | lachlan.colquhoun.ext@marketnews.com
True
MNI Sydney Bureau | +61-405-322-399 | lachlan.colquhoun.ext@marketnews.com
True

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.