Hong Kong’s economy has been sputtering since before Covid, and it has lagged other developed economies in the region.
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The PBOC governor defended the central bank’s monetary policy stance and implied that credit growth will not accelerate very much.
Retail sales improved in May, but most other areas slowed, including industrial production, real estate, and FAI.
Plenum clients are overwhelmingly interested in China’s housing market and the implications of a potential second Trump term.
Chinese investment in Mexico has been growing rapidly, but it still remains relatively small compared to the investments made by other countries.
The PBOC’s declared gold reserves have been growing, but not by a large enough margin to explain the size of gold demand in China.
Beijing has accelerated its rebalancing of China’s university major offerings, limiting the growth of humanities majors and adding new engineering majors.
The central bank set up a RMB 300bn new relending tool to encourage banks to lend to local SOEs to buy up unsold housing inventory.
Long-term Chinese government bond yields have bounced back from the bottom after the central bank voiced its concern last month.