The People's Bank of China announced that starting immediately, it will conduct temporary reverse repos or repos depending on market conditions, operating from 16:00 to 16:20 on working days. The term will be overnight, using fixed-rate, quantity bidding. The interest rates for temporary overnight reverse repos and repos will be 20 basis points below and 50 basis points above the seven-day reverse repo rate, respectively.
Minshe...

PBOC decided to borrow treasury bonds from primary dealers in open market operations, based on prudential observations of current market situations.
China's 10-year bond futures drop 0.2%, and 30-year bond futures falls 0.6%.
Due to the lackluster performance of the Chinese stock market, investors are redirecting funds towards the risk-off fixed-income market.
Currently, non-bank institutions are purchasing more government bonds than the toleranc...

The CSRC noted that 33 companies have hit delisting standards this year, including 22 for low stock price, indicating a gradually forming market mechanism of survival of the fittest. Delisting regulations have a transition period, so a significant short-term increase in delistings is not expected. The CSRC emphasizes investor protection in delisting cases, pursuing legal vi...

PPI y/y decline narrowed in May, while m/m growth turned positive.
PPI +0.2% m/m, with a +0.3% input prices and producer prices for consumption goods remained at -0.1%.
In major industries, the prices for coal mining and washing decreased by 14.2%, chemical raw materials and chemical products manufacturing decreased by 5.4%, electrical machinery and equipment manufacturing decreased by 4.2%, agricultural and sideline food processing decreased by 3.6%, computer, communicati...

China's state-holding enterprises' profit fell by 2.8% y/y to 0.74 trillion yuan
Joint-equity's profit grew by 0.9% to 1.55 trillion yuan
Foreign ventures+HK+MO+TW rise 16.7% to 0.53 trillion yuan
Private enterprises +6.4% to 0.55 trillion yuan
From January to April, the profit in China's mining sector fell by 18.6% y/y to 0.392 trillion yuan.
The manufacturing sector rises 8.0% y/y 1.44 tln yuan.
The electricity, heating, gas, and water supply sector +36.9% to 258.2...

Business production continues to accelerate. The production index stands at 52.9%, a rise of 0.7 percentage points from the previous month, the highest since April 2023, indicating a slight acceleration in the expansion of manufacturing enterprises.
The new order index is at 51.1%, a decrease of 1.9 percentage points from the previous month, but still within the expansion zone, indicating that the market demand for manufacturing continues to recover.
Looking at external ...