MNI China Daily Summary: Friday, August 2

MNI China Press Digest Aug 2: Hukou, Property, State Grid

MNI: PBOC Sets Yuan Parity Higher At 7.1376 Fri; -0.90% Y/Y

CHINA PBOC CONDUCTS CNY1.17 BILLION VIA 7-DAY REVERSE REPOS FRI

CHINA SETS YUAN CENTRAL PARITY AT 7.1376 FRI VS 7.1323

MNI CNB WATCH: Cut Pace Slows To 25Bps, Price Pressures Remain

MNI: ITALY JUN INDUSTRIAL PRODUCTION +0.5% M/M ; -2.6% WDA Y/Y

Detailed Swiss July Data Suggests Lower Services Price Pressure

Industrial Production Rebounds Less Than Expected in June

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

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N. Korea Test-Fires Cruise Missiles From Submarine Amid U.S.-S. Korea Military Drill

NORTH KOREA

North Korea fired two "strategic cruise missiles" from a submarine, while its military leaders decided to take "important, practical" measures for the "offensive use" of war deterrents, state media said as reported by Yonhap News Agency.

  • North Korea's first known launch of cruise missiles from a submarine was seemingly a demonstration of force ahead of large-scale joint military exercises involving South Korea and the U.S.
  • The so-called Freedom Shield drill kicks off today and will last for 11 days. The North called the exercise "preparations for a war of aggression" against it and responded by escalating its military threats.
  • The test-launch came after North Korea's Central Military Commission presided over by Supreme Leader Kim Jong-un resolved to improve the use of its war deterrents in responding to the actions taken by the U.S. and South Korea.
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