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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.
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Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessMNI China Press Digest Mar 21: PBOC, Investment, Electricity
Highlights from Chinese press reports on Thursday:
- The People’s Bank of China will likely lower the Medium-term Lending Facility rate and guide banks to lower deposit rates to promote the downward movement of the benchmark Loan Prime Rate, said Dong Ximiao, chief researcher at Merchants Union Consumer Finance. Though the March LPRs were kept unchanged this week, Dong believes the one-year and five-year maturities still have room for a 10 and 15 bp cut within the year, depending on changes in banks’ funding costs and the economic recovery process. It will be necessary to guide the nominal loan interest rate down quickly by cutting the policy interest rate to alleviate the upward pressure on the real-interest rate amid low inflation, said Wang Qing, chief macro analyst at Golden Credit Rating. (Source: 21st Century Business Herald)
- Shanghai has launched a CNY100 billion interest discount program to encourage private investment in high-tech projects, Securities Daily reported. The municipal government encourages banks to increase credit supply to five major areas with preferential rates, namely new networks, new computing power, new data, new facilities, and new terminals. Included are projects of industrial Internet and facilities for blockchain, intelligent computing, and intelligent connected vehicles. (Source: Securities Daily)
- China’s total electricity consumption was 1,531.6 billion kilowatt hours in the first two months, rising 11% y/y, People’s Daily reported citing the National Energy Administration. The power consumption in primary, secondary and tertiary industries grew by 11.1%, 9.7% and 15.7%. In southern provinces including Guangdong, Guangxi and Hainan, special equipment manufacturing, automobile manufacturing, computer communications and electronic equipment manufacturing all experienced double-digit growth in electricity consumption.
To read the full story
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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.