Banca March | China has kicked off two programmes totalling up to ¥800 billion ($122.38 billion) aimed at facilitating share buybacks and providing greater liquidity to the markets. Some ¥500 billion will be granted to the swap programme, which allows the exchange of assets – such as corporate bonds or shares of CSI 300 companies – in exchange for highly liquid securities such as government bonds, making it easier for…

Banca March: The Asian country has opted to retaliate after EU member states voted on Friday to impose levies of up to 45% on electric vehicles of Chinese origin. China’s measures on spirits amount to 39%, taking effect on Friday 11 October. The main country affected will be France, where China accounted for 99% of exports of the drink. The EU has already announced that it will take the disagreement…

Bankinter: The Development and Reform Commission has announced a new fiscal stimulus package of CNY 200 billion (approx. $28 billion) to ensure that growth reaches the 5% target. The measures will be structured in two tranches. In the first, CNY 100bn ultra-long bonds will be issued to develop as yet unspecified projects, and in the second, the same amount will be earmarked for a series of strategic investments, of which…

Bankinter: First data on Golden Week spending: international daily travel is estimated to have increased +19% year-on-year, surpassing pre-covid levels. On the first day of this holiday week, foreign travel increased 40%, according to Trip.com (up 30% to Europe) and rail travel reached record highs. According to Alipay, tourists who have travelled abroad have spent 120% more than last year. Other indicators, however, such as travel to Hong Kong showed…

One aspect that should not be neglected is an international trade that, especially where China is concerned, is becoming more tense. While the EU and the US have already taken the step of increasing their tariffs, it is now Canada that has announced a 100% tariff on imports of Chinese electric vehicles and another 25% tariff on steel and aluminium imported from China. More than the material effects of the…

Alicia García Herrero (Natixis) | China’s long-awaited Third Plenum is finally over. Four days of high-level meetings (from July 15 to 18) among Party leaders ended with a perplexingly vague read-out of the meeting. The press conference on July 19 has not managed to assuage China watchers’ general impression of an uneventful gathering even if 300 reforms have been counted from official media but, reportedly, most of which already underway….