China Stock Market

China says it will set up a system to resolve its local government debt risks

China Oct PMIs: Manufacturing 49.5 (expected 50.2) Non-manufacturing 50.6 (expected 51.8)

• October 2023 official Chinese PMIs from the National Bureau of Statistics (NBS)

PBOC sets USD/ CNY mid-point today at 7.1779 (vs. estimate at 7.3024)

HSBC CEO says the worst has passed for China's real estate implosion

PBOC is expected to set the USD/CNY reference rate at 7.3024 – Reuters estimate

• You can expect the actual reference rate to be set around 7.17

Chinese Communist Party seems to have convinced firms to buy back shares, prop up market

PBOC sets USD/ CNY reference rate for today at 7.1781 (vs. estimate at 7.3165)

PBOC is expected to set the USD/CNY reference rate at 7.3165 – Reuters estimate

• The reference rate will not even be close to this, expect it around the 7.17 big figure

China state media puff piece: policy bank steps up support for information infrastructure

China domestic flights to jump 34% above pre-pandemic levels. Flights to US to rise also.

China September Industrial Profits +11.9% y/y

PBOC sets USD/ CNY reference rate for today at 7.1782

PBOC is expected to set the USD/CNY reference rate at 7.3109 – Reuters estimate

China financial press says the PBOC is likely to cut the RRR in Q4

PBOC sets USD/ CNY mid-point today at 7.1784 (vs. estimate at 7.3265)