CHINA PRESS: Chinese Cross-border E-commerce Hit By Tariffs
May-22 01:51
Chinese e-commerce companies expanding overseas face challenges as the European Union and Japan signal plans to raise tariffs on low-value parcels, following the U.S.’s removal of its tax-free policy early May. Since 2018, China’s cross-border e-commerce platforms’ small-value exports to the U.S. increased from USD5.3 billion to USD66 billion—fuelling a surge in parcel volumes from 138 million to 1.36 billion. (Source: Beijing Business Today)
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MNI: CHINA PBOC CONDUCTS CNY220.5 BLN VIA 7-DAY REVERSE REPO TUES
Apr-22 01:22
- CHINA PBOC CONDUCTS CNY220.5 BLN VIA 7-DAY REVERSE REPO TUES
CNH: USD/CNY Fixing Edges Higher, Error Term Steady
Apr-22 01:21
The USD/CNY fix was 7.2074, against a BBG market consensus of 7.2892.
- Today's fixing was slightly higher than Monday's outcome (7.2055), despite the market consensus for today being slightly below Monday's estimate (7.2926).
- The fixing error was little changed at -818pips.
- USD/CNH is back to around 7.3050 in latest dealings around 0.15% weaker in CNH terms for the session so far. The pair continues to see support around the 50-day EMA or levels just under this support point. Broader USD sentiment is somewhat firmer in early Tuesday dealings.
CHINA SETS YUAN CENTRAL PARITY AT 7.2074 TUES VS 7.2055
Apr-22 01:16
- CHINA SETS YUAN CENTRAL PARITY AT 7.2074 TUES VS 7.2055
