China’s National Day Golden Week holidays (1-7 Oct) generate the largest domestic tourism spending and trips amongst its major holidays which also include the Spring Festival (Jan/Feb) and Labour Day (May). Domestic tourism activities remained positive this year while there were also reports of stronger outbound and inbound travel during the period, UOB Group’s economist…
China’s aggressive stimulus measures have sparked a significant stock market rally. Many analysts say the measure is not enough to fix the challenges in China’s economy. However, the measures aim to boost sentiment and stem the negative feedback loop between markets and the economy. Thanks for signing up! Access your favorite topics in a personalized…
BEIJING (Reuters) -China’s central bank said on Sunday it would tell banks to lower mortgage rates for existing home loans before Oct. 31, as part of sweeping policies to support the country’s beleaguered property market as the economy slows. Commercial banks should, in batches, reduce interest rates on existing mortgages to no less than 30…
This is The Takeaway from today’s Morning Brief, which you can sign up to receive in your inbox every morning along with: China just announced its biggest economic stimulus since the pandemic, which is reverberating in stocks and commodities worldwide. After the details of the monetary stimulus and support for the stock market were announced…
By Liangping Gao, Ellen Zhang and Marius Zaharia BEIJING/HONG KONG (Reuters) – China’s central bank has shifted to a more aggressive easing stance, but its policy weapons don’t have the key enemy to economic growth in their line of sight: the persistently weak consumer demand. The liquidity injections and the lower borrowing costs flagged by…
The People’s Bank of China (PBOC) plans to set up a swap facility that would give non-bank financial institutions access to at least 500 billion yuan (US$71 billion) in funding to buy shares, in a surprise move aimed at stabilising the stock market. However, some analysts called for more drastic action to shore up investor…
China’s central bank has lowered a short-term policy rate and pumped more liquidity into the financial system, as it continues efforts to help boost the economy. The People’s Bank of China cut the 14-day reverse repurchase interest rate by 10 basis points to 1.85%, and injected 74.5 billion yuan, equivalent to $10.6 billion, of liquidity…