China's early 2024 economic indicators show dynamic growth with industrial output up 7% YoY, retail sales growing 5.5% YoY, and fixed-asset investment increasing by 4.2% YoY. The People's Bank of China has revamped its monetary policy committee, adding new members including the China Securities Regulator head Wu Qing and Vice Central Bank Governor Xuan Changneng. The committee now includes two prominent economists from Peking University and Tsinghua University. PBoC Deputy Governor states that China's monetary policy has ample room for adjustments, including cutting the Reserve Requirement Ratio (RRR). China's State Planner Vice Chairman aims to accelerate approval of investment projects, while the Vice Finance Minister reports a 2.5% year-on-year increase in fiscal revenue for Jan-Feb after adjusting for special factors. The State Planner Vice Chairman also expects government investment bond funds to exceed 6 trillion yuan. China's Deputy Governor expresses confidence in the country's monetary policy space and aims to promote effective investment and resolve excess capacity.
Who are the 2 new academic advisers to China’s central bank? https://t.co/7FGBn2sWJK
🔴 CHINA https://t.co/uuSk61aHqj DEPUTY GOVERNOR SUPPORTS CONSUMPTION AND INVESTMENT TO PROMOTE REBOUND IN PRICES
🔴 CHINA https://t.co/uuSk61aHqj DEPUTY GOVERNOR IMPLIES BID TO PROMOTE PRICE RISES WITH EXPECTED GOAL FOR 2024 TOTAL SOCIAL FINANCING GROWTH
🔴 CHINA https://t.co/uuSk61aHqj DEPUTY GOVERNOR MAINTAINS COMMITMENT TO APPROPRIATE GROWTH IN CREDIT AND TOTAL SOCIAL FINANCING
🔴 CHINA https://t.co/uuSk61aHqj DEPUTY GOVERNOR EXPECTS AROUND 8% NOMINAL ECONOMIC GROWTH FOR CHINA IN 2024
🔴 CHINA STATE PLANNER VICE CHAIRMAN VOWS TO INCREASE PRIVATE INVESTMENT SUPPORT
🔴 CHINA'S VICE FINANCE MINISTER STATES FISCAL POLICY WILL SUPPORT ACHIEVING 2024 GROWTH TARGET
🔴 CHINA STATE PLANNER VICE CHAIRMAN EXPECTS GOVT INVESTMENT BOND FUNDS TO EXCEED 6 TRILLION YUAN
⚡Xuan Changneng, vice governor of PBOC, says #China has ample monetary policy room, e.g. for further RRR cut.
PBoC Deputy Governor: China's Monetary Policy Has Ample Room - There Still Room For Cutting RRR - Will Keep Yuan Basically Stable
🔴 CHINA https://t.co/uuSk61aHqj DEPUTY GOVERNOR SEES ROOM FOR CUTTING RRR
🔴 CHINA https://t.co/uuSk61aHqj DEPUTY GOVERNOR SAYS MONETARY POLICY IN THE COUNTRY HAS SUFFICIENT SPACE
🔴 CHINA'S CENTRAL BANK DEPUTY GOVERNOR AIMS TO PROMOTE EFFECTIVE INVESTMENT AND RESOLVE EXCESS CAPACITY
🔴 CHINA VICE FINANCE MINISTER REPORTS 2.5% YEAR-ON-YEAR INCREASE IN JAN-FEB FISCAL REVENUE AFTER ADJUSTING FOR SPECIAL FACTORS
🔴 CHINA'S STATE PLANNER VICE CHAIRMAN AIMS TO ACCELERATE APPROVAL OF INVESTMENT PROJECTS.
"The PBoC is reshuffling its monetary policy committee to include securities regulator head Wu Qing, vice central bank chief Xuan Changneng & 2 new academic members...The 2 new academics are Huang Yiping from Peking U & Huang Haizhou from Tsinghua" https://t.co/8v0IpgXD6V
China’s central bank has named two prominent economists as members of its monetary policy committee, which advises on policy decisions https://t.co/h9p1NHFcmA
China's central bank reshuffles monetary policy committee https://t.co/UfJu1lcC8e https://t.co/ltrNhkSbQ9
🔴 CHINA'S CENTRAL BANK ADDS TWO NEW ACADEMIC MEMBERS TO MONETARY POLICY COMMITTEE FROM PEKING UNIVERSITY AND TSINGHUA UNIVERSITY
🔴 CHINA'S CENTRAL BANK ADDS CHINA SECURITIES REGULATOR HEAD WU QING AND VICE CENTRAL BANK GOVERNOR XUAN CHANGNENG TO MONETARY COMMITTEE
🔴 CHINA'S CENTRAL BANK REVAMPS MONETARY POLICY COMMITTEE
Exceeding expectations, China’s early 2024 economic indicators signal a year of dynamic growth. Data from the National Bureau of Statistics for the first 2 months show: ✅Industrial output jumps 7% YoY ✅Retail sales grow 5.5% YoY ✅Fixed-asset investment increases by 4.2% YoY https://t.co/lZDGH4nZk6
WATCH: China's factory output and retail sales beat expectations in the January-February period, marking a solid start for 2024 and offering some relief to policymakers even as weakness in the property sector remains a drag on the economy and confidence https://t.co/2WHHBNJfO9 https://t.co/TseJ9mpTuW