#China's most active manganese-silicon futures contract and ferrosilicon futures contract in Zhengzhou open 8% higher and hit the limit-up. #Ferro#silicon
Iron ore futures in Dalian drop 3%, still on the downtrend.
Rubber and asphalt also drop 2.7%.
Live hogs down 4.5%. #Iron#ironore#steel
Coke and coking #coal futures in Dalian DCE extend gain to 4%, thermal coal in CZCE gains 6.13%.
The coal shortage problem in China is yet to be solved.
The most-traded thermal #coal futures contract in CZCE now gains 7%, refreshing its historical high since 2014.
SHFE #stainlesssteel future contracts extend gain to 4%, standing above 22,050 yuan per tonne mark, also refreshing the historical high.
The stainless steel capacity in the China mainland keeps shrinking due to the power and production curb recently. #nickel
#China's most-traded coking #coal contract surges 6% and the most active #tin contract rises more than 4% in the afternoon trading. #futures#Commodities
🇨🇳In August, #China's total retail sales were recorded at 3.967 trillion yuan, up 3.4% y/y.
🟦Retail sales of goods were 3.52 trillion yuan, which rose by 3.6%y/y.
🟨Total revenue for the catering industry was 449 billion yuan, which rose 2.1% y/y.
*Online goods sales jumped by 9.6% y/y to 9.98 trillion yuan, supported by nationwide subsidies. 2/n #RetailSales #EconTwitter #ChinaChart
1⃣ #China's August industry output +5.2%y/y or +0.37%m/m. 📉
2⃣ #Crudeoil refinery +7.6% to 63.46 million tons.📉
Power generation +1.6% to 0.936 TWh. #OOTT
3⃣ #Automobile production +10.5 % to 2.75 mln units, sedan +11.6%. NEVs +22.7% to 1.333 mln units.📈
4⃣ #Steel production +9.7%(+6.4% in July) to 1.23 trillion tons.📈 Cement fell by 6.2% y/y to 1.48 trillion tons.
3/n
🇨🇳#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 🇨🇳