Source: National Bureau of Statistics of China China’s Q1 GDP rose faster than anticipated despite the impact of Covid-19 lockdowns in some cities in March. CSI 300 Index down -0.53%, CNY USD up +0.09% First-quarter GDP jumped by 4.8%, surpassing expectations of 4.4%, rising from a prior year.Fixed asset investment for Q1 jumped by 9.3% from a year ago, surpassing … [Read more...] about China’s First-Quarter GDP Beats Forecast, Growing 4.8% Year-on-Year
China
PBOC Cuts Bank’s Reserve Requirements as Growth Stalls
Source: Bloomberg China’s central bank has reduced its reserve requirements for most of its lenders by 25 basis points and 50% for smaller banks to cushion the slowing economy. CSI 300 is down -0.67%, USDCNY is down -0.10%. The change is expected to become effective on April 25, generating around 530 billion yuan or $83 billion of liquidity to the economy.Officials … [Read more...] about PBOC Cuts Bank’s Reserve Requirements as Growth Stalls
China’s Caixin Manufacturing PMI Plunges to 48.1 in March, Lowest Level in 2 Years
Source: S&P Global China’s manufacturing output plunged at the fastest pace in two years in March on resurgent COVID-19 cases and economic uncertainty from the Ukrainian war. CSI 300 Index up +1.27%, CNY USD down -0.32% The Caixin/Markit Manufacturing Purchasing Managers’ Index dropped to 48.1 in March, signaling the steepest pace of contraction since February 2020, … [Read more...] about China’s Caixin Manufacturing PMI Plunges to 48.1 in March, Lowest Level in 2 Years
China’s Lockdowns Hit Manufacturing in March
Source: National Bureau of Statistics China’s purchasing managers’ indexes slipped in March, dragged by the shutdown of its technology and trade and automotive centers. MCHI is down 1.48% premarket. The Comprehensive PMI Output Index for the month stood at 48.8, down from 51.2 in February and 55.3 in March 2021.The Manufacturing Purchasing Managers’ Index was recorded at … [Read more...] about China’s Lockdowns Hit Manufacturing in March
China Commits Strong Monetary Policy Support to Prop Up Economy
Source: Bloomberg The Chinese cabinet has vowed stronger monetary policy support in a bid to continue the stable expansion of credit as the country seeks to support the economy moving forward. MCHI is down 4.32%. The cabinet said it will keep policies that boost the economy and keep away from measures that will dampen market sentiment.Officials noted the need to observe … [Read more...] about China Commits Strong Monetary Policy Support to Prop Up Economy
