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

MNI: BAKER HUGHES US RIG COUNT 613; OIL RIGS 506; GAS RIGS 105

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT FINAL APR INDEX 77.2

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

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MNI China Press Digest Mar 12: Car Purchase, PBOC, Pork Price

MNI (Singapore)
MNI (Beijing)

MNI picks keys stories from today's China press

Central Bank NewsPolicy NewsPBOCHomepageBond Market NewsAPACChinaEM Policy NewsEM Policy StoryEM Central Bank NewsPeoples Bank of ChinaPolicy StoryStoryRegion
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Highlights from Chinese press reports on Tuesday:

  • The National Administration of Financial Regulation is studying a reduction to the down-payment ratio of passenger car loans and the optimisation of the pricing mechanism on electric vehicles insurance to help boost car consumption, said NAFR Director Li Yunze. The administration will also actively support EV exports and building of warehouses overseas, provide more targeted financial services and expand the coverage of export credit insurance, said Li. (Source: China National Radio)
  • The People’s Bank of China is investigating rural commercial banks’ bond investments, due to concerns that speculative transactions will squeeze out funding support for the real economy, 21st Century Business Herald reported. The yields of 10- and 30-year treasury bonds rebounded from the historical lows set last week to reach 2.313% and 2.484% on Monday. Some rural commercial banks may have begun to cut their super-long-term bond holdings after the PBOC’s investigation, an unnamed bond trader said.
  • Chinese pork prices will likely remain under pressure in Q2 due to strong supply and weak demand despite February’s CPI data showing an end to a nine-month consecutive fall, largely driven by holiday effects, according to industry analysts. Major producers are expecting to accumulate losses and drive a reduction in capacity amid tight cash flows and rising debt-to-asset ratios. (Source: Yicai)
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Highlights from Chinese press reports on Tuesday:

  • The National Administration of Financial Regulation is studying a reduction to the down-payment ratio of passenger car loans and the optimisation of the pricing mechanism on electric vehicles insurance to help boost car consumption, said NAFR Director Li Yunze. The administration will also actively support EV exports and building of warehouses overseas, provide more targeted financial services and expand the coverage of export credit insurance, said Li. (Source: China National Radio)
  • The People’s Bank of China is investigating rural commercial banks’ bond investments, due to concerns that speculative transactions will squeeze out funding support for the real economy, 21st Century Business Herald reported. The yields of 10- and 30-year treasury bonds rebounded from the historical lows set last week to reach 2.313% and 2.484% on Monday. Some rural commercial banks may have begun to cut their super-long-term bond holdings after the PBOC’s investigation, an unnamed bond trader said.
  • Chinese pork prices will likely remain under pressure in Q2 due to strong supply and weak demand despite February’s CPI data showing an end to a nine-month consecutive fall, largely driven by holiday effects, according to industry analysts. Major producers are expecting to accumulate losses and drive a reduction in capacity amid tight cash flows and rising debt-to-asset ratios. (Source: Yicai)