PBOC cut RRR by 25 bp to release 500 billion yuan funding
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ECONOMY
Updated: Six large state banks agreed to provide more than one trillion yuan of credit lines to property developers
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China’s economy expected to grow 4.5% in 2023, 5.5% in 2024 – Goldman Sachs economist
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China’s capital Beijing faces most complex, severe Covid outbreaks since pandemic started – local government
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PBOC, banking regulator urge banks to step up financial support for stabilizing economy, to issue another 200 bn yuan special loans for ensuring property delivery
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Shijiazhuang city to conduct five-day population-wide Covid test after relaxation last week
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Chinese President Xi Jinping had brief meeting with US Vice President Kamala Harris
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NDRC officials met delegation of US companies including ExxonMobile, Boeing
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Chinese President Xi met Japanese Prime Minister for first time
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China not to resort to flood-like stimulus, to step up support to real economy – PBOC
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China won’t use real estate to provide short-term stimulus to economy; average rate on new mortgage loans in Oct fell 4 bp on month – PBOC
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China started construction of 45 major water conservancy projects so far this year, a record high – official
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China to release more state pork reserves, live hog price declined significantly after government curbs – state planner
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China reported over 20,000 Covid cases for Nov. 15
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Yiling Pharmaceutical surge on report of rising demand for its flagship herbal medicine in Shijiazhuang amid easing Covid measures
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Shijiazhuang city no longer requires Covid test results for taking subway
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What’s on The Wire? News List on Nov. 15
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China’s investment grew at slightly slower pace in Jan – Oct, real estate investment contracted further
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China’s industrial production grew at slower pace in October amid Covid outbreaks
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China’s retail sales dropped on year in Oct for first time since Jun amid Covid outbreaks
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China’s Politburo reaffirms dynamic zero-Covid policy, stressed minimising impact on economy
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China’s new bank loans tumbled in Oct, broad credit growth slowed amid weak credit demand
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China’s factory gate prices fell for first time since Dec 2020, consumer inflation eased amid COVID curbs
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China’s large banks to step up lending to manufacturing, infrastructure in Q4
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Equity markets remain turbulent, relaxation of Chinese Covid policy will take time – UBS
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China’s exports posted first drop since Jun 2020 in Oct amid weaker overseas demand, higher base
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China’s oil imports up 14% on year in Oct, natural gas imports slid nearly 19% – customs data
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China to stick with dynamic zero-Covid policy, still faces complex, severe outbreaks – national health authority
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China will continue to open up, cooperate with all countries – President Xi Jinping
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US to exert more pressure on allies, to talk with Netherlands on restricting supply of advanced chip technology to China – report
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China’s service sector contracted at faster pace in October amid Covid outbreaks – private survey
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Hong Kong raised base rate by 75 bp in lockstep with US Fed
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Eight Chinese provinces saw GDP growth slow in Jan – Sept from first half amid Covid outbreaks, power shortage
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China’s potential growth to remain within reasonable range; yuan to stay at balanced level; real estate sales show marginal improvement – PBOC governor Yi Gang
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China to release this year’s 7th batch of pork reserves to stablize surging prices – state planner NDRC
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Chinese airlines’ international flights rose 21.9% on year in Oct to hit highest this year
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China’s factory activity contracted a slower pace – private survey
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China’s steel sector contracted at faster pace in Oct as real estate remained sluggish, support from infrastructure investment plateaued
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China’s live hog prices rose last week, falls expected as hog slaughtering pace pick up in some regions – state planner NDRC
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China’s factory activities returned to contraction in Oct amid Covid outbreaks, non-manufacturing PMI fell below 50 mark for first time in five months
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China to step up credit support to real economy, to keep yuan largely stable – PBOC governor Yi Gang
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IMF cut Asia’s growth forecast on China’s sharp slowdown, global monetary tightening, inflation
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China’s iron ore futures hit lowest in three months, Singapore iron ore fell below $80 mark amid demand concerns
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China’s foreign trade faces rising uncertainties, authority to maintain trade within reasonable range – commerce ministry
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China’s inbound FDI rose 15.6% on year in Jan – Sept, outbound FDI grew 8.5% – commerce ministry
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Chinese industrial companies’ profits declined at faster pace in Jan – Sept
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China’s electricity consumption expected to grow 4% – 5% in 2022, slowing significantly from 10.3% growth last year – industry body
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China publishs rules to promote development of individually-owned business to stablize employment
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China’s fiscal revenue picked up in Sept, non-tax revenue grew fastest since Oct 2019
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UBS raises China’s 2022 GDP growth forecast to 3.2%, sees no major adjustment to Covid control measures before Mar 2023
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