China will maintain a prudent, flexible and targeted monetary policy in the second half of the year, its central bank said on Saturday, as it seeks to support growth while keeping the digital economy in check. China's economy has staged a strong rebound from the impact of the COVID-19 pandemic, but recent data has suggested that gains are fading.
China will maintain a prudent, flexible and "reasonable" monetary policy in the second half of the year, its central bank said on Saturday, emphasising stability. The bank also called for rectifying virtual platform companies and to maintain a high level of pressure on such firms to meet regulations.
China will stick with its current economic policies in the second half of the year, the ruling Communist Party's top decision-making body said on Friday, maintaining an accomodative stance in the face of an uneven domestic recovery and global uncertainty.
* MSCI World Index down 0.3%; Asia ex-Japan -1.1% * Dollar set for worst week since May. * Central banks, earnings vs Delta numbers, China tech. By Simon Jessop. Global shares edged lower on Friday but remained on course for their sixth straight month of gains as solid corporate earnings and central bank largesse kept sentiment intact, while the dollar held near a one-month low.
China's Ministry of Industry and Information Technology, the country's main technology sector regulator, urged internet companies to step up risk assessment and management of exporting essential data at a meeting on Wednesday, according to a notice on the ministry's website on Friday. Authorized by the ministry, the Internet Society of China, a state-backed industry group, convened a study session on implementing China's Data Security Law, with representatives from 12...
China's economic recovery isn't solid and remains uneven, a top decision-making body of the ruling Communist Party said Friday, vowing to keep economic operations "within a reasonable range" and maintain stability in macroeconomic policies for this year and next. The Politburo said it will aim to keep liquidity reasonably ample, stabilize the Chinese yuan and maintain steady commodity prices, state news agency Xinhua reported. The government will roll out rules on cuts to...
* MSCI World Index down 0.3%; Asia ex-Japan -1.1% * Dollar set for worst week since May. * Central banks, earnings vs Delta numbers, China tech. By Simon Jessop. Global shares tracked Asia lower on Friday but remained on course for their sixth straight month of gains as solid corporate earnings and central bank largesse kept sentiment intact, while the dollar held near a one-month low.
1/ OUT OF SURPRISES? Is this year's sharp U.S. growth rebound losing momentum? U.S. non-farm payrolls on Aug. 6 will offer a snapshot of July hiring. The strength of U.S. economic numbers has at least partly driven stock market gains. Have a look at Citi's U.S. Economic Surprise Index, which measures the degree to which the data is beating or missing economists' forecasts. 2/CHINA CRACKDOWN.
* EM stocks index down 6.6% so far in July. * Turkish lira set to snap five months of losses. * Peruvian dollar bonds fall. By Susan Mathew. An index of emerging market shares fell on Friday as Chinese equities slipped on regulatory concerns, and was set for its worst month since a pandemic-led rout in March last year.
Taiwan's gross domestic product jumped 7.47% in the second quarter, slightly easing from an 8.92% rise in the first three months of the year, preliminary data showed. The latest data keeps Taiwan among the world's best-performing economies so far this year, even as a recent Covid-19 resurgence in the island led to tightened restrictions. The rise has been driven by the strong expansion in domestic production and better-than-expected exports, even though the local outbreak in...
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