CNH

PBOC is expected to set the USD/CNY reference rate at 7.1499 – Reuters estimate

• This is the modelled estimate, the actual reference rate will be well below this

China 'wealth manager' Zhongzhi goes bankrupt amid property market collapse

• Zhongzhi is a major player in China's shadow banking sector

Home foreclosures in China rose by 33.5% to 709,000 cases in the first 11 months of 2023

• China's property sector continues to grapple with debt loads

PBOC sets USD/ CNY reference rate for today at 7.1029

• PBOC CNY reference rate setting for the trading session ahead.

PBOC is expected to set the USD/CNY reference rate at 7.1593 – Reuters estimate

• The People's Bank of China is still sitting heavily on this rate, it'll be somewhere south of 7.10

Fitch downgrades four Chinese National asset management firms by one notch

China’s LGFVs must repay a record $651 billion of bonds in 2024 (will refinance)

• Posing a challenge to the central government's support for local governments

China Caixin Services PMI for December 52.9 (expected 51.6)

• China's services PMI for December shows strong growth, defying expectations.

PBOC sets USD/ CNY mid-point today at 7.0997 (vs. estimate at 7.1504)

• PBOC CNY reference rate setting for the trading session ahead.

PBOC is expected to set the USD/CNY reference rate at 7.1504 – Reuters estimate

• PBOC CNY reference rate setting for the trading session ahead.

PBOC appears to be ramping up housing & infrastructure financing to support the economy

• Discover the impact of the PSL program & its similarities to quantitative easing in China

PBOC sets USD/ CNY central rate at 7.1002 (vs. estimate at 7.1512)

• PBOC CNY reference rate setting for the trading session ahead.

Wall Street Journal says "China is headed toward a demographic collapse"

• A shocking decline in birth rates could more than halve its population by 2100

ICYMI - China's home sales fell 26% compared with the same period last year (NY holiday)

• Sales fell 50% in smaller cities

PBOC is expected to set the USD/CNY reference rate at 7.1512 – Reuters estimate

• PBOC CNY reference rate setting for the trading session ahead.