Chen Long discusses the outcome from the Ministry of Finance’s weekend press conference, the fiscal impact on the Chinese economy, and the latest market movements.
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The Ministry of Finance has committed to spending record money on derisking local government debt but has introduced little on boosting demand.
China has built up a sanction regime against foreign officials, foreign companies, and advocates of Taiwan independence.
The A-share market rose further today after offshore equities recorded large gains during the holiday, but both have already faded from their peaks.
The Chinese stock market has had its strongest weekly rally since 2008 as investors have scrambled to buy and liquidity has poured in.
Chen Long discusses the economy’s performance in Q3, the upcoming major events in Q4, and the policy announcements made at the PBOC’s 24 September press conference.
The PBOC cut policy rates by another 20bps, further loosened rules on the housing market, and created tools to help non-bank institutions buy stocks.
Robotaxi services captured the Chinese public’s imagination this summer as they reached a tipping point of visibility in cities like Wuhan.
US lawmakers have advanced a series of China-related bills in the House, including the BIOSECURE Act.
China’s fiscal revenue has fallen this year, painting a much worse picture than the headline GDP figure shows.