MNI China Daily Summary: Thursday, April 11

MNI BRIEF: EU Risks Damaging Trust With China - MOFCOM

MNI BRIEF: China Small Lenders To Cut Deposit Rates Further

MNI BRIEF: China’s Hainan To Launch “Tourist Wallet”

MNI BRIEF: China March CPI Lower Than Market Expectation

MNI: PBOC Injects Net CNY2 Bln Via OMO Thurs; Rates Unchanged

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Indeed.com Tracker Shows Broad-Based Moderation in March / Q1

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MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

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Xi Concludes Visit to Russia, PPI Data on the Docket

RUSSIA
  • Chinese President Xi Jinping left Wednesday morning for China after concluding a state visit to Russia. Following two-days of talks between Russian Putin and Xi, Russia and China released a joint statement. The two leaders said they would "deepen" military cooperation but stressed that relations do not constitute a "military-political alliance." The statement made reference to stepping up foreign policy coordination in Africa, Central Asia, and the Persian Gulf and hits regular criticisms of US unilateralism and the nuclear tech sharing alliance AUKUS.
  • Russia’s central bank is making it more costly for commercial lenders to hold liabilities in “unfriendly” currencies by raising mandatory reserve requirements for such foreign tender. In a statement released yesterday, the monetary authority boosted the amount of money that banks must set aside as reserves for “unfriendly” currencies to 7.5% while cutting it for others to 5.5%.
  • President Putin will hold a government meeting this afternoon while the Federal Statistics Service reports February producer prices at 1600 GMT/1900 local time (Prior: -4.6% y/y, -0.9% m/m).
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