China produced 5.74 million tons of non-ferrous metal in August, which rose by 6.7%, the most since January 2021.
Jan-Aug non-ferrous metal productions +1.9% to 44 million tons. 2/ #China#copper#aluminum
In Aug, #China's total retail sales were recorded at 3.6258 trillion yuan, up 5.4% y/y but dropped 0.05% m/m.
Among them, retail sales of goods were 3.25 trillion yuan, which rose by 5.1% y/y; The total revenue for the catering industry was 374.8 billion yuan, surged 8.4% y/y. 3/
#China's Aug industry output increased by 4.2% y/y or rose by 0.32% m/m. #Crudeoil refinery -6.5% to 53.6 million tons per day.
Power generation +9.9% to 0.825 TWh.
Vehicle production +39% to 2.426 mln units. #Steel production -1.5% to 1.083 trillion tons. 4/ #OOTT#EconTwitter🇨🇳
#China's Jan-Aug nationwide fixed-asset investment increased by 5.8% y/y to 36.71 trillion yuan, recovered by 0.36% m/m.
The investments in the #manufacturing industry added 10% y/y, and the electricity, heating, gas & water supply rose 15% y/y 5/ #econtwitter#investment 🇨🇳
#China's Jan-August #realestate development investment fell by 7.4% y/y to 9.08 trillion yuan.
Residential housing sales areas dropped by 23% y/y to 8.79 million square meters, and the total sales dropped 27.9% y/y to 8.59 trillion yuan.
Sentiment 95.07📉 6/ #property#housing 🇨🇳
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RMB exchange rate will remain basically stable: Cailianshe cites sources close to central bank #China $CNY $CNH
RMB exchange rate breaking 7 mark has helped ease pressures that could trigger short-term depreciation: sources #China $CNY $CNH
PBoC is closely monitoring the RMB exchange rate and will adhere to a managed floating exchange rate system based on market situation and adjusted with reference to a basket of currencies: sources #China $CNY $CNH
⚡China's industry ministry MIIT says lithium producers shall not collude in pricing or seriously deviate from cost pricing. #China#lithium#EVs
⚡China's industry ministry MIIT held a symposium with lithium producers Thursday and came to the conclusion that China's lithium resources reserve could meet domestic demand. #China#lithium#EVs
⚡China's industry ministry MIIT says to promote development of lithium industry and accelerate development and utilization of domestic resources. #China#lithium#EVs
⚡China's megacity #Chengdu says to gradually and orderly restore normal production and life from 12:00 on September 15 and will adjust prevention and control measures accordingly.
Residents in #Chengdu are required to show negative results from tests taken within 48 hours when entering communities, all kinds of public places, and taking public transportation: notice
#Chengdu city says to reopen nucleic acid sampling sites to provide free mixed testing services for citizens.
EUROPEAN COMMISSION: EU MARKETS WATCHDOG WILL SET OUT PLANS BY SEPT 22 TO AMEND COLLATERAL RULES IN ENERGY DERIVATIVES MARKETS. WORKING ON A TRANSACTIONS-BASED PRICE BENCHMARK TO MORE ACCURATELY REFLECT MARKET FOR EU GAS IMPORTS. #OOTT#ONGT
EU COMMISSION PROPOSES 180 EUR/MWH REVENUE CAP FOR NON-GAS FUELLED POWER GENERATORS. EU REVENUE CAP WOULD APPLY TO WIND, SOLAR, BIOMASS, LIGNITE, NUCLEAR AND SOME HYDROPOWER GENERATORS. #OOTT#ONGT
EU LEVY WOULD RECOUP 33% OF OIL, GAS, COAL, REFINING COMPANIES' SURPLUS TAXABLE PROFITS IN FISCAL YEAR 2022. EU LEVY WOULD APPLY TO FOSSIL FUELS COMPANIES THAT HAVE TAX OBLIGATIONS IN EU COUNTRIES. #OOTT#ONGT
#China's cabinet says to extend tax reliefs for some small firms: CCTV
#China's cabinet says to encourage commercial banks to make medium- and long-term loans to support equipment upgrading at interest rate no higher than 3.2%.
#China's cabinet approves two nuclear power projects at meeting.
BANK OF CANADA HIKES POLICY INTEREST RATE BY 75 BPS TO 3.25%, IN LINE WITH MARKET EXPECTATIONS. #CANADA $CAD
CANADA RATES 'WILL NEED TO RISE FURTHER’ GIVEN INFLATION: BOC #CANADA $CAD
BOC: WILL BE ASSESSING HOW MUCH HIGHER RATES NEED TO GO AS EFFECTS OF TIGHTER MONETARY POLICY WORK THROUGH THE ECONOMY. SURVEYS SUGGEST SHORT-TERM INFLATION EXPECTATIONS REMAIN HIGH; THE LONGER THIS CONTINUES, THE GREATER THE RISK ELEVATED INFLATION BECOMES ENTRENCHED.
$CAD