China's GDP Growth May Slow in 4Q -- Market Talk
China's regulators draw clear 'red lines'! The central bank issues a major warning, and Hong Kong stablecoin-related stocks plummet.
On Monday, stocks of companies engaged in cryptocurrency-related businesses and listed in Hong Kong plummeted after the People's Bank of China (PBOC) vowed to crack down on virtual currencies and expressed concerns about stablecoins. On Saturday, the PBOC warned of a resurgence in cryptocurrency speculation and stated that it would take stringent measures against illegal activities involving stablecoins.
National Bureau of Statistics: November Manufacturing PMI at 49.2%, Up 0.2 Percentage Points from the Previous Month
In November, the manufacturing Purchasing Managers' Index (PMI) stood at 49.2%, up by 0.2 percentage points from the previous month, indicating a slight improvement in business conditions.
The central parity rate hits a new high in over a year! The renminbi climbs to a 13-month high, closely watching the Politburo meeting.
On Wednesday (November 26), the renminbi rose for the fourth consecutive trading day, reaching a 13-month high. This followed the People's Bank of China's guidance to strengthen the currency amid a weakening dollar, as expectations for a Fed rate cut next month gained momentum.
China's Consumer Sentiment Remains Soft, MBSB Says Stronger Stimulus Essential
An exciting major shift! Citi CEO: Achieving 'rapid' growth in China.
FX168 Financial News Agency (Asia-Pacific) reported that the Chief Executive Officer of Citigroup stated that Citi is experiencing "rapid" growth in China due to a renewed strong interest from investors and businesses in the world's second-largest economy.