MNI China Daily Summary: Monday, December 23

MNI: China Steel Demand Seen Falling Next Year

MNI: China CFETS Yuan Index Up 0.83% In Week of Dec 20

MNI: PBOC Net Drains CNY643.5 Bln via OMO Monday

MNI: PBOC Sets Yuan Parity Lower At 7.1870 Mon; -2.26% Y/Y

MNI China Daily Summary: Friday, December 20

MNI: CANADA NOV INDUSTRIAL PRICES +0.6% MOM; EX-ENERGY +0.5%

MNI:US NOV DURABLE NEW ORDERS -1.1%; EX-TRANSPORTATION -0.1%

MNI: SPAIN Q3 FINAL GDP +0.8% Q/Q

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

MNI China Press Digest Nov 18: China U.S., Steel, Peru

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 Monday:

  • China should study the history of Japan-U.S. trade relations when considering a new trade-war with Washington, former State Administration of Foreign Exchange senior official Wang Tao has said. Japan accounted for 22.2% of US imports in 1986, 0.8 percentage points more than Beijing’s highest level in 2017, before dropping to 4.7% in 2023, Wang noted. Authorities need to respond to external shocks by accelerating incremental policies and deepening opening up. In recent years, China’s market share of global exports has increased despite declining in the U.S., showing containment of indirect exports through third party countries was difficult in practice, Wang said.
  • China’s manufacturing sector share of steel demand in China will rise from last year’s 52%, driven by growth in new energy products and high-end equipment manufacturing, according to Jiang Wei, vice president and secretary-general of the China Iron and Steel Association. Speaking at the Lange Steel Network annual meeting, Jiang said current equipment renewal and consumer goods trade-in schemes will increase consumption by about 8 million tonnes this year, but a declining property sector will reduce demand overall, Jiang added.
  • A new Chinese built port in Peru will reduce shipping times between Asia and South America to 25 days from 35 days and cut 20% off logistics costs, Yicai news outlet reported. The construction of deep water facilities at the Chancay Port allows goods to by-pass Mexico and Panama, greatly improving efficiency, the news outlet noted. Niu Haibin, director at the Institute of Foreign Policy of the Shanghai Institute for International Studies highlighted Peru was a member of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the new port would enhance economic integration in South America.
284 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.
MNI (BEIJING)

Highlights from Chinese press reports on Monday:

  • China should study the history of Japan-U.S. trade relations when considering a new trade-war with Washington, former State Administration of Foreign Exchange senior official Wang Tao has said. Japan accounted for 22.2% of US imports in 1986, 0.8 percentage points more than Beijing’s highest level in 2017, before dropping to 4.7% in 2023, Wang noted. Authorities need to respond to external shocks by accelerating incremental policies and deepening opening up. In recent years, China’s market share of global exports has increased despite declining in the U.S., showing containment of indirect exports through third party countries was difficult in practice, Wang said.
  • China’s manufacturing sector share of steel demand in China will rise from last year’s 52%, driven by growth in new energy products and high-end equipment manufacturing, according to Jiang Wei, vice president and secretary-general of the China Iron and Steel Association. Speaking at the Lange Steel Network annual meeting, Jiang said current equipment renewal and consumer goods trade-in schemes will increase consumption by about 8 million tonnes this year, but a declining property sector will reduce demand overall, Jiang added.
  • A new Chinese built port in Peru will reduce shipping times between Asia and South America to 25 days from 35 days and cut 20% off logistics costs, Yicai news outlet reported. The construction of deep water facilities at the Chancay Port allows goods to by-pass Mexico and Panama, greatly improving efficiency, the news outlet noted. Niu Haibin, director at the Institute of Foreign Policy of the Shanghai Institute for International Studies highlighted Peru was a member of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the new port would enhance economic integration in South America.