CNY News

China's central bank reduced its 14-day reverse repurchase rate marginally on Wednesday after cutting the short-term 7-day repo rate a month ago. The People's Bank of China lowered its rate on 14-day reverse repo to 2.65 percent from 2.7 percent. The central bank also injected CNY 200 billion into the financial system via reverse repurchase agreements.

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The police in Kuala Lumpur have arrested 87 Chinese national, working for a crime syndicate, which operated an online investment, forex and crypto currency scam.

The 79 men and 8 women were caught red handed using online applications to find victims and to lure them to invest in crypto currencies and forex trading.

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Chinese manufacturers reported a broadly stable business condition in March after deteriorating the most on record in February due to the strict measures taken to stem the spread of coronavirus, or covid-19. According to the survey conducted by IHS Markit, the manufacturing Purchasing Managers' Index rose to 50.1 in March from 40.3 in February.

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China’s GDP shock is the vanguard of bad news to come for the globe’s most dynamic region.

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Consumer prices in China were up 3.3 percent on year in April, the National Bureau of Statistics said on Tuesday.

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China's home prices increased in April suggesting that the property market started gradual recovery as businesses reopen after the spread of coronavirus subsides.

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Latest PMI data signalled the first increase in Chinese services activity for four months in May amid an easing of measures related to the coronavirus disease 2019 (COVID-19) outbreak.

Caixin Services PMI rose to 55, and Caixin Composite PMI rose to 54.5

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China's exports grew unexpectedly in June as easing of the coronavirus containment measures in most of the developed economies boosted foreign demand, data showed Tuesday. In dollar terms, exports climbed 0.5 percent on a yearly basis in June, the General Administration of Customs reported. Economists had forecast an annual fall of 1.5 percent after falling 3.3 percent in May.

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The manufacturing sector in China continued to expand in July, and at a faster rate, the latest survey from Caixin revealed on Monday with a manufacturing PMI score of 52.8.

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China's service sector expanded strongly in October signaling a sustained recovery from the Covid-19 related drops in activity seen earlier in the year, survey results published by IHS Markit showed Wednesday. The Caixin services Purchasing Managers' Index advanced to 56.8 in October from 54.8 in the previous month. A score above 50 indicates expansion in the sector.

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