FTSE China A50 Index futures open 2.6% higher on Thursday morning following the 3% gain overnight.
Sources said China's authority had a hastily call with major intl banks in a bid to restore the market calm after the recent rout.
SSE Composite Index +1.26%
Shenzhen Component Index +2.16%
SZSE ChiNext Price Index +2.75% #China#StockMarket $ASHR
#K12 Education stocks in Hong Kong get recovered on Thursday, the gauge tracking this sector jumps 8% at the opening.
New Oriental Education gains about 10%, Scholar Education up 6%.
$EDU #stockamarket
SZSE ChiNext Price Indexextends gains to 5%, mainly led by the #semiconductors sector and the new material sector.
The semiconductors sector increases by 5.8%.
Shanghai Fudan Microelectronics Group+14.1%,
SMIC +6.1%. #China#StockMarket#SMIC
The online Education sector in #HongKong continues to extend gains, up 14%.
Scholar Education Group +39%,
Koolearn Technology +16.3%,
New Oriental Education +12.2%. #EDU $EDU #education#China#StockMarket
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🇨🇳#CN_Update Thread for NDRC
NDRC: Consumption in the market was robust during the just-concluded National Day holiday, full of confidence in achieving the target tasks of economic and social development for the whole year.
#China
🇨🇳NDRC: China's financial sector has recently stepped up its efforts to launch a package of incremental policies to promote a sustained economic upturn for the better.
#CN_Note
No latest policy measures have been proposed by the NDRC yet.
🇨🇳NDRC: China's market expectations have shown notable improvement recently.
To strengthen support for local governments in debt swaps to mitigate debt risks.
#China
The "Decision on Comprehensively Deepening Reform and Advancing Chinese-style Modernization" proposes more than 300 major reform measures, all of which pertain to aspects of systems, mechanisms, and institutions.
🇨🇳#China #CPC
🇨🇳Some details:
🔸Need to develop policies and mechanisms for the elderly care industry
🔸The systems for property rights protection, information disclosure, market access, and bankruptcy exit need to be improved.
🔸A growth mechanism for future industry investments should be established.
🔸Local governments' autonomous financial power should be increased, and local tax sources should be expanded. #LGFV
🔸Should study tax system that adapts to new business models.
🔸Proactively align with international high-standard economic and trade rules to expand institutional opening.
🔸Unilateral opening should be expanded for the least developed countries.
🔸Mechanisms to promote high-quality and sufficient employment should be improved.
1⃣ #China's Jan-May industry output +5.6% y/y or +0.3% m/m.
2⃣ #Crudeoil refinery -1.8% to 60.52 million tons.
Power generation +2.3% to 0.72 TWh. #OOTT
3⃣ #Automobile production +1.3% to 2.35 mln units, NEVs +33.6% to 0.92 mln units.
4⃣ #Steel production +3.4% to 1.23 trillion.
🇨🇳In Jan-May, #China's total retail sales were recorded at 3.921 trillion yuan, up 3.7%y/y(expanded).
🟦Retail sales of goods were 3.5 trillion yuan, which rose by 3.6%y/y; (expanded)
🟨Total revenue for the catering industry was 427.4 billion yuan, which rose 5.0%. (expanded).
⚡JUST IN:
China February
Annual CPI 0.7% [Est. 0.4% Prev. -0.8%]
Monthly CPI 1.0% [Est. 0.4% Prev. 0.3%]
Annual PPI -2.7% [Est. -2.5% Prev. -2.5%]
Monthly PPI -0.2% [Prev. -0.2%]
*The first rise in consumer prices since August.
#CPI #China #deflation #PPI #EconTwitter 🇨🇳 1/ thread
CHINA CPI BREAKDOWN:
🔸February annual CPI rebounded sharply, the most since Sep. 2009.
🔸The core CPI rose by 1.2% y/y, vs 0.4% y/y in January, marking the highest increase since February 2022.
🔸Food prices dropped by 0.9% y/y, narrowed by 5 percentage points, due to Chinese New Year effects.
🔸Pork roses by 0.2% y/y, for the first time in 9 months.
🔸Vegetables and aquatic products have risen by 2.9%, and 4.1% from the decline in January.
#PPI #Industry #China #EconTwitter #OOTT #deflation 🇨🇳
CHINA PPI BREAKDOWN:
🔸PPI decline narrowed in February.
🔸PPI -0.2% m/m🟨, with a -0.2% input prices🟨 and a narrower decline in producer prices for consumption goods (-0.1%)🟨. 3/ #PPI #Industry #China #EconTwitter #OOTT #deflation 🇨🇳
⚡ China's Jan-Feb trade balance at 890.86 billion yuan:
#Exports +10.3% y/y, Prev. +3.8%
#Imports +6.7% y/y, Prev. +1.6%v
Trade balance at $125.16 bln in USD term
#Exports +7.1% y/y, Est. +1.9%
#Imports +3.5% y/y, Est. +1.5% 1/n #trade #economy 🇨🇳🇺🇸
⚡China exported and imported 6.61 trillion yuan(+8.7% y/y) of goods in yuan term or $930.86 bln(+5.5% y/y) in USD term in January and February. 2/n #China #trade #import #export #economy 🇨🇳🇺🇸
⚡#China's Jan-Feb #trade with
ASEAN +8.1% y/y to 0.993 trillion yuan
🇪🇺EU -1.3% y/y to 0.832 trillion yuan📉
🇺🇸US +3.7% y/y to 0.707 trillion yuan
🇰🇷S.Korea +2.9 % y/y to 0.337 trillion yuan 4/n #China #trade 🇨🇳