CNH: USD/CNY Fixing Highest Since Late Aug, Fixing Error Slightly Wider
The USD/CNY fix rose to 7.1128, versus the BBG market consensus of 7.1174. * Yesterday's fixing was...
Want to read more?
Find more articles and bullets on these widgets:
Historical bullets
CHINA SETS YUAN CENTRAL PARITY AT 7.1384 WEDS VS 7.1359
- CHINA SETS YUAN CENTRAL PARITY AT 7.1384 WEDS VS 7.1359
CHINA PRESS: Provincial Reports Highlight Special Bond Monitoring Issues
Recent official provincial reports have flagged recurring issues in the use of special bonds, including overstated project scale and returns, idle funds and rising repayment risks, Yicai reported. The audits cited monitoring loopholes that left data inaccurate or incomplete, with some funds misappropriated. Luo Zhiheng, chief economist at Yuekai Securities, said local governments’ project management and oversight capacity has lagged behind the rapid expansion of special bond issuance, contributing to the problems.
CHINA PRESS: China Aviation Volumes Reach New Record In July
China’s civil aviation sector posted record traffic in July, with domestic airlines carrying 64.7 million passengers and international routes handling 7 million, up 2.7% and 15.7% y/y respectively, according to data from the Civil Aviation Administration. Cargo and mail volumes rose 15.3% y/y to 867,000 tonnes, boosted by traders frontloading shipments during the U.S.–China trade truce period. Passenger growth was driven by lower fares, said Lin Zhijie, an expert at a civil aviation think tank, who cautioned that consumer confidence remains weak and that high-speed rail is increasingly diverting demand.
