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Express News | Multiple small and medium-sized banks in various regions have announced a decrease in deposit interest rates.
Goldman Sachs expects the People's Bank of China to lower the reserve requirement ratio by 25 basis points in the third quarter and cut interest rates by 10 basis points in the fourth quarter.
Goldman Sachs released a research report stating that the May currency and credit data in mainland China were lower than expected. The total social financing increased slightly, mainly due to the accelerated issuance of government bonds. Looking at the composition of Renminbi loans, demand for credit remained weak in May, with moderate expansion in household loans, slower growth in corporate loans on a quarterly basis, and a decrease in newly added loans for bill financing. M1 and M2 growth rates further slowed down in May. Slower pace of national bond issuance, coupled with weak demand for private credit, has led to abundant front-end liquidity in the near future, reducing the urgency of the central bank's recent reserve requirement ratio cut. The bank expects the PBoC to lower the deposit reserve ratio by 25 basis points in the third quarter and in the fourth quarter.
Express News | CITIC SEC: Bank stocks' valuation is backed by fundamentals, cementing dividend yield space certainty.
Express News | Yunnan Yuntianhua: Acquired 18.6% stake in Phosphating Group for a total price of 1.055 billion yuan.
Express News | Northbound funds sold a net 4.735 billion yuan today. China Yangtze Power, Wuxi Apptec, and Bank of Communications received net sales of 1.72 billion yuan, 1.625 billion yuan, and 1.614 billion yuan respectively. Contemporary Amperex Technology had the hi
Express News | Bank of Communications: Meng Yu has been appointed as the authorized representative to receive legal process documents and notices in Hong Kong.
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