Китайский рынок: Накануне выхода данных по ВВП за II квартал

Сегодня в Пекине прошел большой брифинг, который проводит китайский Development Research Center. Главный экономист этой организации, товарищ Yu Bin подробно рассказал о ситуации в экономике и возможных действиях правительства в условиях спада. Самые важные цифры, которые озвучил товарищ Yu Bin, касаются завтрашней статистики по ВВП за II квартал. Он потдвердил, что темпы экономического роста в последнем квартале окажутся ниже 8%, хотя при этом заверил что уже с III квартала, динамика ВВП снова ускорится. При этом товарищ Yu Bin вырализ мнение Госсовета о том, что текущий экономический спад не предусматривает более активных действий со стороны правительства с точки зрения масштабных стимулирующих программ в стиле 2009 — 2010 гг. По словам чиновника, Госссовет вполне удовлетворен текущем состоянием экономики и не опасается более глубокого спада. Товарищ Yu Bin заявил, что нет смысла рассчитывать на дальнейшее агрессивное смягчение денежно-кредитной политики, поскольку существующих мер вполне достаточно, чтобы стабилизировать общую экономическую ситуацию и поддержать банковский сектор. Риски дефляции в экономике по его словам «ничтожно малы» и скорее присутствуют инфляционные риски в том случае, если монетарная политика будет слишком мягкой. 
 
 

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ЦБ Кореи понизил учетную ставку, причем довольно неожиданно. 


The Bank of Korea surprised the market Thursday
with a decision to lower its key base rate by 25 basis points to 3.00%
following its regular policy meeting.
 
     This is the BOK's first rate cut since February 2009 and its first
policy move since June last year.
 
     All eight economists polled by MNI had expected the BOK to leave
the base rate unchanged at 3.25%, saying that inflationary pressures are
easing but that the South Korean economy is not weak enough to justify
another rate cut now.
 
     Also, economists warned that a rate cut could weaken the Korean won
and reignite inflationary fears in the future.
 
     South Korea's CPI rose 2.2% on year in June, the smallest
gain since +2.0% in October 2009, while industrial output rose 1.1% m/m
in May, gradually improving from +0.9% in April.
 
     However, recent signs of weakening demand in Europe, the United
States and China may have prompted the BOK's move. South Korean exports
account for about half of the nation's economic activity, so
policymakers are particularly sensitive to recent signs of slowing in
the global economy.
 
 
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Австралия — индекс инфляционных ожиданий среди потребителей вырос в июне до 3.3% против 2.3% и таким образом превысил целевой ориентир для Резервного Банка Австралии. При этом уровень занятости в июне снизился.


Consumer inflation expectations rose sharply in July
to above the Reserve Bank of Australia's target band, reflecting the
impact of the carbon tax, the latest survey from the Melbourne Institute
(MI) showed Thursday.
 
     Inflation expectations rose to 3.3% in July from 2.3% in May.
 
     «The increase in the expected inflation rate this month likely
reflects the perceived impact of the carbon tax which came into effect
on the first of July,» said MI's research fellow Viet Nguyen.
 
     The rise in inflation expectations reflects fewer respondents
expecting annual inflation to fall into the RBA's 2% to 3% target band.
The latest survey showed 12.3% expect inflation to be in the band
compared with 15.1% in the previous survey. This result is well below
the 12-month average of 15.5%.
 
     According to MI's Nguyen, while the impact of the carbon tax
affected inflation expectations, it is unclear whether the increase in
expectations will translate into an increase in wage expectations and
actual inflationary pressures.
 
     «The conundrum for the RBA will be whether to tighten monetary
policy amid moderate growth and considerable uncertainty in the global
economy,» Nguyen said.
 
     In the May Statement of Monetary Policy, the RBA said the
introduction of the carbon price in July is expected to boost headline
inflation by around 0.7 percentage points over the year to June 2013.
The RBA expects the effect on underlying inflation to be less than this,
at around 0.25 points over the same period but said a key assumption was
that there are no second-round effects owing to higher margins or wage
claims. 





The number of employed persons fell in June,
erasing
the gains made in the previous month and pushing up the unemployment
rate.
 
     Data released by the Australian Bureau of Statistics Thursday
showed the number of people employed in June fell by 27,000 compared
with a revised 27,800 (revised down from +38,900) jobs gained in May.
The unemployment rate rose to 5.2% from 5.1% even as the participation
rate fell to 65.2% from 65.4% the month before.
 
     The data on employed persons was worse than MNI median forecast
which was for a flat outcome and slightly outside the range of forecasts
which was -25,000 to +20,000.
 
     The unemployment rate was in line with MNI median forecast which
was for 5.2% while the fall in participation rate was below MNI median
consensus and outside the range of 65.3% to 65.5%.
 
     The fall in employed persons in June was the worst outcome since
the 37,100 drop in December 2011. With this data, the number of employed
persons has risen by 86,300 in the first six months of 2012 thus
averaging 14,400 jobs a month. Data last month showed the average rise
in employed persons was around 24,679 in the first five months of 2012.
 
     The trend data on jobs showed the unemployment rate was flat at
5.1% for the fourth straight month. The trend labor participation rate
was also unchanged at 65.3% In trend terms, employment grew 10,600 in
June compared with a rise of 12,400 in May. Trend data showed the number
of employed increased by 73,800 in the first six months of 2012 to
average 12,300 jobs a month.
 
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Банк Японии сохранил текущую монетарную политику без изменений, хотя при этом расширил объем выкупа финансовых активов еще на 5 триллионов иен (с 65 до 70 трллн.). 




The Bank of Japan's policy board on Thursday voted
unanimously to maintain practically zero short-term interest rates and
left the scale of its financial asset-buying at Y70 trillion, last
raised in April from Y65 trillion.
 
     The BOJ board also left its medium-term projections little changed
from April, forecasting 1.7% economic growth and a modest 0.7% rise in
consumer prices (below its 1% goal) in the next fiscal year. 
 
     Faced with undersubscribed market operations, the bank made some
changes to the way it conducts funding operations, which it believes
should help reinforce its monetary easing.
 
     The policy board made only minor changes to its growth and
inflation forecasts for this fiscal year and next, which were last
provided in its semi-annual Outlook Report issued in April.
 
     For fiscal 2013 ending March 31, 2014, the median forecast by the
board for core CPI (excluding perishables) is +0.7%, unchanged from
+0.7% in April, with individual forecasts ranging from +0.5% and +0.7%,
also unchanged.
 
     In light of lower gasoline and heating oil prices, the board's
median forecast for core CPI this fiscal year was revised down slightly
to +0.2% from +0.3% projection made in April.
 
     The board's median forecast for real GDP in fiscal 2013 is +1.7%,
unchanged from April. The forecast range is also unchanged at +1.6% to
+1.8%.
 
     The median forecast for GDP for this fiscal year was revised down
to +2.2% from +2.3% predicted in January. The forecast range was revised
only slightly to 2.2% and 2.4% from +2.1% to +2.4% in April.
 
     «Compared with the forecasts presented in the April 2012 Outlook
for Economic Activity and Prices, growth prospects will likely remain
broadly unchanged,» the BOJ said.
 
     «With regard to prices, the year-on-year rate of change in the CPI
(all items less fresh food) is expected to be broadly in line with the
April forecasts.»
 
     In a technical move, the BOJ decided to integrate its three- and
six-month fixed-rate funding operations into one category with loan
durations within 6 months «in order to respond flexibly to liquidity
demand by financial institutions.»
 
     The BOJ will also lower the scale of its combined three- and
six-month fixed-rate operations by Y5 trillion to Y25 trillion but
increased the size of Treasury discount bill operations by Y5 trillion
to Y9.5 trillion.
 
     The decision is aimed at coping with continued undersubscription at
the bank's six-month fixed-rate fund-injecting operations for the 14
straight bidding since April 16.
 
     The policy board also decided to scrap «the minimum bidding yield
(currently 0.1%) for the outright purchases of Treasury discount bills
and CP in order to ensure their smooth purchases.»
 
     As for risks to Japan's economic activity and prices, the BOJ said,
«There remains a high degree of uncertainty about the global economy,
including the prospects for the European debt problem, the momentum
toward recovery for the U.S. economy, and the likelihood of emerging and
commodity-exporting economies simultaneously achieving price stability
and economic growth.»
 
     «Overseas economies have shown some, albeit moderate, improvement,
but on the whole still have not emerged from a deceleration phase.»
 
     The bank repeated that in global financial markets, some
nervousness continues to be seen, mainly due to concern about the
European debt problem. «Particular attention should therefore be given
to developments in these markets for the time being,» it said.
 
     On current economic climate, the BOJ maintained the view presented
at the previous meeting in June, repeating, «Japan's economic activity
has started picking up moderately as domestic demand remains firm mainly
supported by reconstruction-related demand.»
 
     The BOJ also left the outlook for Japan's economy, saying, «Japan's
economy is expected to return to a moderate recovery path as domestic
demand remains firm and overseas economies emerge from the deceleration
phase.»
 
     Following the release of its June Tankan business survey last week,
the BOJ noted that «business sentiment has been improving moderately,
particularly in domestic demand-oriented sectors.
 
     The Tankan showed that confidence among large manufacturers
improved in June from three months ago for the first time in two
quarters.
 
     The improvement of the headline figure was helped by the
government's renewal of subsidies for buying low-emission vehicles,
demand for rebuilding the earthquake-hit northeastern region, and lower
energy costs.
 
     The BOJ has left its target for the overnight interest rate among
commercial banks at zero to 0.1% since October 2010, when it lowered it
from 0.1% as part of „comprehensive monetary easing.“
 
 
 
 
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КИТАЙ: ЗВР сократился за счет переоценки евро и других активов, денежная масса М2 чуть подросла да 13.4%, объем вновь выданных кредитов превысил 900 мллрд.юаней 


Chinese lending activity in June beat market
expectations, according to People's Bank of China data released
Thursday, though foreign exchange reserves fell by a record amount in
May.
 
     The PBOC said banks lent out CNY919.8 billion, above May's 793,2
billion and the CNY902 billion expected by economists, according to the
median of an MNI survey of economists.
 
     Deposits surged CNY2.86 trillion in June following quarter-end
window dressing by banks, though banks also raised interest rates on
June 8, which may have helped lure funds back into the system.
 
     The June loan tally brings total first half new lending to CNY4.86
trillion. Although there is no official target for new lending this
year, government and private sector analysts expect around CNY8 trillion
in new loans.
 
     The annual growth of M2 was also exceeded forecasts at 13.6% y/y,
above May's 13.2% and versus the expected 13.4%. The narrower M1
monetary aggregate rose 4.7% and M0 by 10.8%.
 
     Foreign exchange reserves fell $64.97 billion during the second
quarter to $3.24 trillion, including a $6.1 billion drop in April and
record $92.8 billion fall in May, the firmest evidence yet of capital
outflows as a result of heightened global risk aversion.
 
     Reserves also fell during the fourth quarter last year amid
concerns about a European default.
 
     Reserves rebounded by $33.9 billion in June, the first increase in
three months, reflecting the sharp rise in the trade surplus last month
to $31.73 billions.
 
     Foreign exchange reserves grew a record $123.85 billion during the
first three months of this year.
 
     The PBOC also said total social financing, a measure of funding
within the financial system that includes both bank and non-bank
lending, rose to CNY1.78 trillion in June from CNY1.14 trillion in May.
 
 
 
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Вышли данные по китайскому ВВП за II квартал. Все в рамках прогнозов. ВВП замедлился до 7.6% (против 8.1% в I квартале). Также вышли цифры по промпроизводству, розничным продажам и прямым инвестициям. Тоже в рамках ожиданий.

 
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ВВП Сингапура во II квартале оказался отрицательным (- 1.9%) по сравнению с I кварталом (+9.6%). 


The trade-reliant Singapore economy marked a
surprise contraction on a quarterly basis in the second quarter of the
year, due mainly to a slowdown in its key manufacturing sector, data
from the Ministry of Trade and Industry showed Friday.
 
     The MTI's advance GDP data showed the economy contracted by 1.1% on
a quarter-on-quarter seasonally adjusted, annualized basis in Q2,
compared with a 9.4% expansion in Q1. On a year-on-year basis, the
economy continued to grow at a modest pace of 1.9%, following a 1.4%
growth rate in the first quarter.
 
     The outcome was below analysts' consensus forecasts of +0.8% q/q
SAAR and +2.2% y/y. The MTI also revised down its growth readings for
the previous quarter to +9.4% q/q SAAR, from +10.0% previously and to
+1.4% y/y from +1.6% previously.
 
     «The weakened growth momentum in the second quarter was mainly due
to a sequential contraction in the manufacturing sector. The sector
declined by 6.0%, reversing the 20.9% expansion in the preceding
quarter,» the MTI said. «This largely reflected the decline in
biomedical manufacturing output, which more than offset gains in the
transport engineering cluster.»
 
     Singapore's services-producing industries, which account for 69% of
nominal GDP, also failed to provide adequate support, registering +1.0%
y/y in Q2 compared with +1.9% in the previous quarter, and growing 0.4%
q/q SAAR, compared with +2.7% in Q1.
 
     The MTI's advance release is based mainly on data compiled in the
first 2 months of the quarter, that is April and May, and are meant as
an early indicator of performance in the period. A more detailed report
on the economy will be released in August, the MTI said.
 
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Товарищ  Вень говорит о наличии обширного арсенала экономических и монетарных стимулов для стимулирования Китая. Намекает на очередное сокращение нормативов по банковским резервам и возможности увеличения госрасходов в случае необходимости.



China has ample ammunition to ease policy and boost
economic growth, including «relatively large» room to cut banks'
required deposit reserve ratio, the official Xinhua News Agency said in
a commentary on the first half economy published at the weekend.
 
     «The continued slowdown of economic indicators and weak corporate
confidence showed that the downside pressure facing our economy is
indeed big… We must take effective measures to stabilize economic
growth,» Xinhua said in its commentary.
 
     Xinhua recalled that Beijing's massive CNY4 trillion stimulus
package enacted back in 2008 quickly restored economic growth and said
the government is now more experienced in managing economic growth.
 
     «Our economic fundamentals have not changed… Our economic growth
is still above the targeted range and is stabilizing,» said Xinhua.
 
     «There is significant room for policy adjustment,» Xinhua said,
noting government's  current fiscal deficit is less than 2% of GDP and
outstanding treasury debt is less than 20% of GDP.
 
     «There is relatively large room to implement an expansionary fiscal
policy. The continuous slowdown of CPI is creating more room for
monetary policy. There is relatively large room to cut (bank's) deposit
reserve ratio, which is a bit high,» said Xinhua.
 
     The People's Bank of China cut interests rates twice this year and
deposit reserve requirement three times in the current cycle.
 
     Chinese Premier Wen Jiabao has said several times in recent weeks
that the government will step up policy fine-tuning in the second half.
 
     The fourth reserve cut is expected to be delivered in coming days.
 
 
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(* БесЦовесТная текила помешала ньюс опубликовать)

Но...
Товарищ Вень, (видимо с подачи фвашингтонгского обкома), пытается взрастить «зеленые ростки» на грядке мировых рынков, дешевым словом «Модернизация» (Превед Медвед!)


China s Wen says economy stabilising, H2 policies key
China's Wen says economy stabilising, H2 policies key RTR, 07/15 06:09AM BEIJING, July 15 (Reuters) — China's Premier Wen Jiabao said efforts to stabilise the economy are working and the government will step up efforts in the second half of the year to increase policy effectiveness and foresight, the official Xinhua news agency reported on Sunday. Wen, who made the comments during a weekend tour of Sichuan province in southwestern China, said the economy was running at a slower, more stable pace of growth. «The economic growth rate is still within the government target range set early this year, and stabilisation policies are working,» Wen was quoted as saying. China reported on Friday that growth in the April-June period had slowed for a sixth successive quarter to its slackest in more than three years, with year-on-year growth of 7.6 percent just above the government's 7.5 percent 2012 target. It dragged the first half average down to 7.8 percent — below the 8 percent level that in previous downturns has triggered a robust response from policymakers, highlighting likely policy vigilance from Beijing even as signs emerge that action taken so far is beginning to stabilise the economy. The GDP number, released in a flurry of Chinese data on Friday, was roughly in line with investor expectations. Wen said China's economic fundamentals remained sound and the country retained huge growth potential. He cited a bumper summer harvest, easing inflation and rising incomes as evidence. Still, warning that an economic rebound is not yet guaranteed and that risks lay ahead, Wen said the second half of the year would see the government «increase efforts to preset and fine-tune its policies, and make policies more targeted, foresighted and effective.» Those plans would combine stabilising investment with implementing mid- to long-term development plans, promoting urbanisation and agricultural modernisation, improving incomes, upgrading industries, developing emerging markets and encouraging private investment, Wen said. He added that more must be done to raise income and improve its distribution, enhance social networks and create more jobs, particularly for college graduates. (Reporting by Nick Edwards; Editing by Daniel Magnowski)


Тут… (к выходным) вспоминается Далида и песня… Paroles, paroles… (Слова… слова… слова...) /еревод © песни/






Но.. при этом FT уже кошмарит рынок «жратвы»… а «Еда» для Китая — есмь — основная статья «политики»...

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«Гуру» из банка HSBC который является лучшим прогнозистом по азиатским активам, говорит что стратегия направленная на дальнейшее снижение китайского рынка ошибочна. Игра против Китая в данной ситуации выглядит иррациональной. 

Chinese stocks are cheap and the economy is poised to recover, making it a “dangerous” strategy on the part of some investors to bet on further declines in equities, said Herald Van Der Linde, head of Asia Pacific equity strategy at HSBC Holdings Plc. (HSBA)
“At this point in time, with low valuation and massive shorts in the market, it is not rational to bet that China will further fall from here,” he said in an interview from HSBC’s Singapore office yesterday. “It’s a dangerous strategy, not a rational one to do.”
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Агентство Platts оценивает спрос на нефть в Китае по итогам июня на уровне 36.84 мллн. тонн что на 1.9% ниже аналогичного периода прошлого года. Таким образом,   впервые за три года  спрос показал снижение год к году.

The following are excerpts from a statement by
Platts Monday with estimated of China oil demand in June:  
 
 
     China's apparent oil demand fell for the first time in three years
in June, dropping 1.9% year on year to 36.84 million metric tons (mt),
or an average 9.0 million barrels  b/d, a just-released Platts analysis
of recent Chinese government data showed.
 
     The 178,400-b/d fall from June 2011's apparent demand of 9.18
million b/d was the first contraction since a 2% drop in the first
quarter of 2009 in the wake of the global financial crisis. On a daily
basis, apparent oil demand last month was the lowest since the 8.95
million b/d seen in September last year.
 
     Refinery runs in June fell 0.6% year on year to 35.98 million mt,
or 8.79 million b/d, while net oil product imports dropped nearly 37%
year on year to 860,000 mt.
 
     «Industry sources we've spoken to have been expecting this drop to
come sooner or later,» said Song Yen Ling, Platts senior writer for
China. «You can't keep watching the engines go slower and slower and not
expect to see a drop in the fuel that's needed.»
 
     China's second quarter gross domestic product (GDP) growth was
7.6%, the lowest in over three years and down from first quarter growth
of 8.1%. Year on year, industrial output growth was 9.5%, compared with
12.1% in the last 12 months. Electricity output fell 0.9% year on year.
 
     In the past year, China's economy has been hit by dwindling export
demand from Europe and the U.S., and domestic consumption has been
insufficient to take up the slack.
 
     In May, China's apparent oil demand growth rose 0.5% year-on-year
to 9.39 million b/d, while April demand edged up 0.3% year-on-year to
9.35 million b/d.
 
     June's drop, though, outweighed the previous two months' gains,
bringing apparent oil demand for the second quarter to 9.25 million b/d,
a year on year contraction of 0.4% from the 9.29 million b/d seen in the
second quarter of 2011.
 
     In the first half of the year, overall apparent oil demand averaged
9.45 million b/d, up 1% year on year.
 
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ИНДЕКС ПРОМЫШЛЕННОЙ АКТИВНОСТИ КИТАЯ ПО ДАННЫМ БАНКА HSBC ВЫРОС В ИЮЛЕ ДО 49.5 ПУНКТА.



China's manufacturing sector may have contracted
for a ninth straight month in July, though the pace of contraction may
have been the slowest since February, as government easing measures take
hold, HSBC said Tuesday.
 
     Its July flash PMI stood at 49.5 compared with June's final reading
of 48.2, 48.4 in May, 49.3 in April, 48.3 in March and 49.6 in February.
 
     «July's flash PMI picked up modestly to a five-month high of 49.5,
suggesting that the earlier easing measures are starting to work,» said
Qu Hongbin, HSBC's chief China economist, in an accompanying statement.  
 
     «That said, the below-50 July reading implied demand still
remaining weak and employment under increasing pressure. This calls for
more easing efforts to support growth and jobs. We believe the fast
falling inflation allows Beijing to do so and a more meaningful
improvement of growth is expected in the coming months when these
measures fully filter through.»
 
     The flash output index reading rose to 51.2 from June's 49.3,
marking a nine-month high, while new orders and new export orders
indexes contracted at a slower pace, HSBC said.
 
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Новое поколение китайских потребителей существенно отличается от предыдущего, прежде всего свой избирательностью по отношению к товарам. Такие выводы содержатся в новом докладе консалтинговой группы McKinsey 

China's emerging consumer class is more emotional than previous generations of shoppers and firms must shift their marketing strategies to keep pace with the nation's new standard setters, consultants at McKinsey said in a new report on Tuesday.


More self-indulgent, individualistic and brand loyal than before, China's mainstream consumer class will comprise 400 million people with incomes above 106,000 yuan ($16,800) by 2020, polarising the market as they replace a more modestly monied urban population still focused on buying life's basics.


That wealthier class of consumers, who are more emotionally driven and brand-conscious than their current mass market counterparts, will make up 51 percent of city-dwellers by 2020, up from 6 percent in 2010, McKinsey researchers predict.


«Marketers will have to move fast to cater to consumers with brands that 'speak directly' to their emotional wants,» said the report, which surveyed 10,000 people in 44 cities.


China's current mass market consumers are defined as having annual household incomes of between 37,000 yuan and 106,000 yuan and make up more than four fifths of the population. But by 2010, they will occupy just 36 percent, McKinsey reckons.


That means the speed, scale and simplicity of products that have been crucial to success for consumer goods firms in China for the last 15-20 years will be supplanted by strategies built around emotions, niches and diverse brand portfolios.


McKinsey research suggests China's new consumers are more than 50 percent more likely than their current mass market cousins to consider the emotional benefit of products they buy.


These consumers are also more likely to prefer certain brands, be younger than the overall population and live in the big cities dotting China's east coast.


The report says younger consumers are more likely to emulate spending traits of consumers in developed countries — 41 percent of younger consumers in the new mainstream consumer class are more likely to say they «always pay premiums for the best products», compared to 31 percent of older consumers.


Chinese consumers, famous for ferreting income into savings and shunning credit card debt, are beginning to pay more attention to foreign and luxury brands. The share of urban households able to afford cars and little luxury items will rise six-fold by 2020 to about 57 percent of the total, the report said.


Higher income consumers also prefer foreign brands of food, drinks and personal care products in greater numbers. «The good news for global companies is that the younger and more affluent consumers are, the more likely they are to favour foreign brands,» the report states.


The more affluent shoppers were also more likely to consider information gleaned from social media and the internet to help them make purchasing decisions.


Urban lifestyles and increasingly hectic schedules have taken their toll on Chinese consumers, McKinsey's survey found. More than a third said they spent more on mobile phones, as well as pre-cooked meals and dining out, compared with a year ago.


Setting up domestic consumption as a driver of growth is a key tenet of the Chinese government's current five-year plan, as the country looks to reduce its reliance on exports.


A report last year by the Boston Consulting Group predicted China would become the second-largest consumer market in the world, behind the United States, by 2015.


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Отток капитала из Китая сохраняется. Разница между продажей и покупкой валюты для клиентов со стороны китайских банков осталась отрицательной в размере почти 7 мллрд. долларов. 


ВАЛЮТНЫЕ ОПЕРАЦИИ КИТАЙСКИХ БАНКОВ
Сhinese banks sold more foreign currency than they bought for clients in August, leading to a net sale of $6.3 billion in foreign exchange in over-the-counter transactions, figures from the State Administration of Foreign Exchange showed on Tuesday.


That reverses $500 million of net foreign currency purchases in July. Chinese banks were net forex sellers in April this year as well as in November and December 2011.


In the first eight months, Chinese banks had net foreign exchange purchases of a $23.6 billion, the currency regulator said in a statement on its website Banks' over-the-counter foreign exchange transactions have helped accumulate huge amounts in recent years, as exporters and investors sell dollars to Chinese banks, which in turn sell most of them to the central bank in the interbank market.

But the nagging debt crisis in Europe, China's biggest trading partner, and the slowing Chinese economy have dampened foreign capital inflows, pushing down banks' forex purchases from their customers.


China's entire banking system sold a net 17.4 billion yuan in foreign exchange in August, widening from a net sale of 3.8 billion yuan in July, according to figures released by the central bank earlier this month.


Following is a monthly data on Chinese commercial banks' net foreign exchange purchase (in $bln): Aug Jul Jun May Apr Mar Feb Jan Dec Nov Oct Sep -6.3 0.5 -3.5 5.1 -3.7 7.8 4.4 19.4 -15.3 -0.8 3.2 26.0
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Торговый баланс Китая в ноябре: экспорт вырос на 12.7% (прогнозировали рост на 8%), импорт вырос на 5.3% (прогнозировали рост на 7%) 




 

 

 
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