Timely lowering of reserve requirements and interest rates, preventing and resolving risks in key areas, maintaining stable Exchange Rates. The central bank, financial regulatory authority, and Forex bureau collectively responded on how to proceed next ye
① The central bank also pointed out the need to explore and expand the macro-prudential and financial stability functions of the central bank, and effectively implement two monetary policy tools to support the stable development of the Capital Markets. Experts indicate that this statement significantly improves market expectations and enhances market anticipation for a slow bull market trend in the medium to long term; ② The Financial Regulatory Bureau pointed out the necessity to effectively prevent and resolve risks in key areas, continuously improving the quality and effectiveness of financial regulation, and promoting high-quality development in the Banking and Insurance industries.
The central bank will implement a moderately loose monetary policy and timely reduce the reserve requirement ratio and interest rates to maintain ample liquidity.
① Implement a moderately loose MMF policy effectively. ② Better support key areas and weak links of high-quality development.
The State Administration of Foreign Exchange: In November, Banks settled 1465.8 billion yuan and sold 1440.9 billion yuan.
According to Statistics from the State Administration of Foreign Exchange, in November 2024, Banks exchanged 1,465.8 billion yuan and sold 1,440.9 billion yuan.
In November, China's industrial added value above the designated size increased by 5.4% year-on-year, with New energy Fund, Siasun Robot&Automation, and integrated circuits leading the growth.
From January to November, the added value of large-scale industries grew by 5.8% year-on-year. Among them, the production of New energy Fund vehicles, Siasun Robot&Automation, and integrated circuit products increased by 51.1%, 29.3%, and 8.7% respectively.
National Statistics Bureau: In November, the total retail sales of consumer goods increased by 3.0% year-on-year.
In November, the total retail sales of consumer goods reached 4,376.3 billion yuan, an increase of 3.0% year-on-year. Among them, the retail sales of consumer goods excluding Autos were 3,899.8 billion yuan, showing a growth of 2.5%. From January to November, the total retail sales of consumer goods reached 44,272.3 billion yuan, with a year-on-year increase of 3.5%. The retail sales of consumer goods excluding Autos were 39,796 billion yuan, growing by 3.7%.
China's November Retail Sales Rise 3.0%, Industrial Production up 5.4%
Spinee OP : Singapore and China will enhance capital markets cooperation, planning a cross-border e-CNY pilot.
MAS and PBCDCI are embarking on a pilot that will allow travelers from both countries to use e-CNY for tourism spending in Singapore and China.