Financial Authorities Declarations
- Flash News!
-At the end of October, 3.85 Trillion Yuan of Chinese Bonds was held by Overseas Institutions, according to PBOC Shanghai data
-The State Taxation Administration registered 910.1 Billion Yuan of tax and fee cuts since January (788.9 Billion Yuan of Taxes and 121.2 Billion Yuan of fees).
-The China Petroleum & Chemical Corporation (Sinopec Corp.) signed a long-term deal on Liquefied natural gas (LNG) with Venture Gloval LNG, a USA producer. The agreement has a duration of 20 years and specified a shipment of 4 million tonnes of LNG per year.
- The CSRC approved IPO !
The China Securities Regulatory Commission. (CSRC) approved IPO of Goodwill E-Health Info Co., Ltd., Shanghai Model Organisms Center Inc. and Shenzhen Pacific Union Precision Manufacturing Co., Ltd. on Shanghai STAR market. MH Robot & Automation Co., Ltd., Jiangsu Tonglin Electric Co., Ltd. and Mingyue Optical Lens Co., Ltd. will be listed on the Shenzhen Stock Exchange’s Chinnext.
Central Bank Operations and declarations
|November 3||Reverse Repo||7-days||50 Billion Yuan||2.2%|
|November 4||Reverse Repo||7-days||50 Billion Yuan||2.2%|
|November 5||Reverse Repo||7-days||100 Billion Yuan||2.2%|
People’s Bank of China Governor YI Gang declared that ‘’ the issue of personal data protection has come to the fore amid the rapid development of fintech Some big tech firms have either collected data without permission or misused it, and there are also cases of customer data leakage. It is urgent that we strengthen personal data protection. »
He added that personal data protection is on the agenda of the PBOC? Th eregulation is recently focused on excessive collection of consumer data. He urged financial institutions to properly inform, use and store information of for legitimate purposes in a strict accordance with law.
International coordination is also a key task in anti-trust monitoring, data and consumer protection.
- State Administration Foreign Exchange data
|Forex Reserves||3.2176||Trillion USD|
|— Growth in Volume||+17 Bln USD||mom|
|— Growth in %||+0.53 %||mom|
|Current Account Surplus||202.8||Billion USD|
|Surplus in Trade of Goods||379.6||Billion USD|
|Deficit in Services Trade||82.1||Billion USD|
- Foods Supply and Security is ensured !
The National Food and Strategic Reserves Administration official QIN Yuyun declared that Grain Supply from domestic market is fully ensured.
He added that grain production in 2021 is expected to exceed 650 Billion kg and the current reserves are at an historic high level.
“The country’s ability to ensure its food supply has also been strengthened, there are sufficient stocks of rice and flour products, as well as grain and oil processing capabilities” he said.
However, the country recently ask people of some regions to store reserves as quarantaine are possible as pandemic local outbreaks can reappears.Government want to avoid foods logistics issues identified during the previous quarantine.
Sources : Ministry of Finance, People’s Bank of China and the State Administration of Foreign Exchange, National Bureau of Statistics, Ministry of Commerce, Ministry of Finance, General Administration of Customs, State-owned Assets Supervision and Administration Commission