MNI China Daily Summary: Tuesday, December 10

MNI BRIEF: China Nov Exports Slows, Imports Slide

MNI BRIEF: China Crude Oil Imports Accelerate In November

CHINA NOV EXPORTS +6.7% Y/Y VS MEDIAN +8.9% Y/Y: CUSTOMS

MNI: CHINA YTD EXPORTS +6.7% Y/Y IN YUAN TERM: CUSTOMS

MNI: PBOC Net Injects CNY90.3 Bln via OMO Tuesday

MNI: GERMAN NOV CPI +2.2 % Y/Y

MNI: NORWAY NOV CORE CPI +0.1% M/M, +3% Y/Y

MNI: NORWAY NOV CPI +0.3% M/M, +2.4% Y/Y

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

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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Putin Says 54 Tanks Destroyed in Rare Admission of Loss

RUSSIA
  • President Putin acknowledged that Russian forces fighting in Ukraine lack sufficient advanced weapons despite a tripling of arms output, Bloomberg report. Putin also made the rare admission of shortcomings in production in a televised meeting with local reporters and war bloggers. He said Russia had lost 54 tanks since Ukraine’s counteroffensive began last week - the first time the Kremlin has admitted losses on such a scale. Putin also added that “additional mobilisation is not required for now” and on the grain deal said “we are now thinking about how we can get out.”
  • The Deputy CEO of Russia’s VTB Bank said that "the portfolio of yuan-denominated retail savings with Russian banks will grow twofold and reach 88bln [yuan]. As a result, the Chinese currency will take a quarter in currency savings of customers and its share will be above 45% as of 2024 year-end."
  • There are no major economic releases on the docket today, with GDP data the key release of the week on Thursday (Est: -1.9% y/y). The St. Petersburg International Economic Forum begins today.
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