MNI BRIEF: China To Approve More Securities Funds - NFRA

MNI BRIEF: China Sees 5% 2024 Growth In Reach - NBS

MNI BRIEF: China Q3 GDP Slows To 4.6%

CHINA SEP INDUSTRIAL OUTPUT +5.4% Y/Y VS MEDIAN +4.6% Y/Y: NBS

MNI: PBOC Sets Yuan Parity Higher At 7.1274 Fri; +2.67% Y/Y

MNI: PBOC Net Injects CNY14.2 Bln via OMO Friday

CHINA Q3 2024 REAL GDP +4.6% Y/Y VS MEDIAN +4.6% Y/Y: NBS

Japan Sep Core CPI +2.4% Y/Y; Energy Price +6.0% Y/Y

MNI JAPAN SEPT CORE CPI +2.4% Y/Y; AUG +2.8%

CANADA: Politics Week: Trudeau Faces More Pressure To Resign

CANADA: Politics Week: Parliament Opens With Early Election Threats

AUSTRALIA: Albanese Lines Up Budget for May Election

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

MNI China Press Digest Oct 18: LPR, Home Sales, Growth

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 Friday:

  • The October Loan Prime Rates, set to be released on Monday, will most likely be lowered by 20 basis points following the People’s Bank of China’s 20bp cut to the 7-day reverse repo rate last month, Securities Daily reported citing analysts. The LPR will likely remain stable over November and December as authorities monitor policy impacts, while the historic low of banks’ net interest margin will constraint downward movement, the daily said, citing Wang Qing, chief macro analyst at Golden Credit Rating. The one-year and five-year LPRs have been reduced by 10bp and 35bp so far this year to 3.35% and 3.85%.
  • The Housing Ministry’s latest plan to renovate one million urban-village houses by offering resettlement subsidies for residents is expected to drive home sales of about 100 million square meters, Xinhua Finance reported citing estimates by China Real Estate Information Corp. If the plan is implemented within one year, it will likely drive a 14% increase in annual home sales by area, the newspaper said citing analysts.
  • Authorities should step up efforts to implement existing policies and launch additional measures, push for sustained economic rebound and strive to complete the annual targets, Xinhua News Agency reported citing Vice Premier Ding Xuexiang. China must increase counter-cyclical adjustments and fully utilise local government special bonds to give full play to the driving role of government investment, while improving the business environment to expand private investment, Ding said.  
243 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 Friday:

  • The October Loan Prime Rates, set to be released on Monday, will most likely be lowered by 20 basis points following the People’s Bank of China’s 20bp cut to the 7-day reverse repo rate last month, Securities Daily reported citing analysts. The LPR will likely remain stable over November and December as authorities monitor policy impacts, while the historic low of banks’ net interest margin will constraint downward movement, the daily said, citing Wang Qing, chief macro analyst at Golden Credit Rating. The one-year and five-year LPRs have been reduced by 10bp and 35bp so far this year to 3.35% and 3.85%.
  • The Housing Ministry’s latest plan to renovate one million urban-village houses by offering resettlement subsidies for residents is expected to drive home sales of about 100 million square meters, Xinhua Finance reported citing estimates by China Real Estate Information Corp. If the plan is implemented within one year, it will likely drive a 14% increase in annual home sales by area, the newspaper said citing analysts.
  • Authorities should step up efforts to implement existing policies and launch additional measures, push for sustained economic rebound and strive to complete the annual targets, Xinhua News Agency reported citing Vice Premier Ding Xuexiang. China must increase counter-cyclical adjustments and fully utilise local government special bonds to give full play to the driving role of government investment, while improving the business environment to expand private investment, Ding said.