Huajin Securities noted that the PBOC's Q2 monetary policy implementation report indicates that a new monetary policy framework is emerging. In the context of high risks of a rebound in the U.S. dollar index and a cooling demand for debt financing due to China’s economic transition, stabilizing interest rates is key to stabilizing exchange rates, and deleveraging is essential to prevent the e...
Adjusted disclosure includes: Shanghai Stock Connect: After the market closes each trading day, the total transaction amount and number of transactions, ETF transaction amounts, the top ten active securities and their transaction amounts will be disclosed. Monthly and annual summaries of the aforementioned data will also be provided. On the fifth trading day of each quarter, ...
With devaluation pressure high, monetary authorities take measures to hedge against it, and counterparties provide leverage, lending money to the authorities. These counterparties will make two trades: shorting RMB futures and holding RMB bonds. The income comes from two parts: swap points paid by the authorities and bond coupons. If the maturity matches well, it's pure fixed income. However, some are imperfectly ...
Will promptly introduce accessible reform measures, and speed up the implementation of the identified policy measures. Should reserve and launch a number of incremental policy measures ASAP. Domestic effective demand remains insufficient. Saw many risks and hidden dangers in key areas. It is necessary to strengthen counter-cyclical adjustments, a...
The one-year deposit rate was cut for the first time in a year, with more significant reductions in long-term rates. All 12 national joint-stock banks completed this round of deposit rate cuts. The reduction in long-term deposit rates was more substantial, with two-year, three-year, and five-year fixed deposit rates generally cut by 0.2 percentage points. Ping An Bank reduced its two-year fixed deposit rate by 0.3%. Man...
The re-issued bonds will be 30-year fixed-rate interest-bearing bonds, with a competitive bidding face value totaling 44 billion yuan, without allowing additional bids from category A members. The coupon rate of this re-issued bond is the same as the previously issued bonds of the same period, at 2.47%. $China 10-Year Treasury Notes Yield (CN10Y.BD)$$BANK OF CHINA (03988.HK)$
On Thursday, the People's Bank of China (PBOC) announced a 200 billion yuan Medium-term Lending Facility (MLF) operation through interest rate bidding, with a winning bid rate of 2.3%, down by 20 basis points from the previous rate. Industry insiders noted that this additional MLF operation signals an easing stance, addressing financial institutions' medium- to long-term funding needs. The ti...
The Industrial and Commercial Bank of China (ICBC) and the Agricultural Bank of China (ABC) announced comprehensive cuts in deposit rates for one to five-year terms, effective July 25. This marks the start of a new cycle of collective rate cuts following the second interest rate cut of the year. $BANK OF CHINA (03988.HK)$$ABC (01288.HK)$$ICBC (01398.HK)$$Hang Seng Index (800000.HK)$
China's 1-year Loan Prime Rate (LPR) was set at 3.35% in July, with the 5-year LPR set at 3.85%, both lowered by 10 basis points from previous levels. The LPR adjustment, synchronized with reverse repurchase operations, reflects the gradual unveiling of the central bank's new monetary policy framework. This adjustment indicates the LPR's shift towards referencing short-term policy rates more heavily, diminish...
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All 12 national joint-stock banks completed this round of deposit rate cuts.
The reduction in long-term deposit rates was more substantial, with two-year, three-year, and five-year fixed deposit rates generally cut by 0.2 percentage points. Ping An Bank reduced its two-year fixed deposit rate by 0.3%.
Man...
The coupon rate of this re-issued bond is the same as the previously issued bonds of the same period, at 2.47%.
$China 10-Year Treasury Notes Yield (CN10Y.BD)$ $BANK OF CHINA (03988.HK)$
$BANK OF CHINA (03988.HK)$ $ABC (01288.HK)$ $ICBC (01398.HK)$ $Hang Seng Index (800000.HK)$
The LPR adjustment, synchronized with reverse repurchase operations, reflects the gradual unveiling of the central bank's new monetary policy framework. This adjustment indicates the LPR's shift towards referencing short-term policy rates more heavily, diminish...
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