GOVT AND POLICIES

PBOC skips reverse repos as liquidity improves

China's central bank skipped reverse repos on Tuesday, citing sufficient liquidity in the banking system. The banking system reports a sufficient level of liquidity at present, the People's Bank of China said in a statement. A reverse repo is a process in which the central bank purchases securities from commercial banks through bidding, with an agreement to sell them back in the future.

Curbs on deboned Japanese beef lifted

Chinese authorities recently announced that the country would remove a ban on imports of Japan's deboned beef under 30 months old starting Dec 19. The ban was imposed amid outbreaks of mad cow disease in 2001, according to a statement jointly released by the General Administration of Customs and the Ministry of Agriculture and Rural Affairs. Inspection and quarantine requirements would be made separately, said the statement. The authorities also unveiled another statement to lift import restrictions imposed on cloven-hoofed animals and products, removing a ban placed in 2010.

Trademark applications swell to 7.12m in China

From January to November, 7.12 million trademark registration applications were filed in China, according to the trademark office of the National Intellectual Property Administration. China's total number of effective registered trademarks has reached 24.78 million, with every 4.9 market entities owning one registered trademark on average. The public services related to trademarks have become more efficient and convenient. The period needed to review trademark registration in China has been shortened to five months on average.

Foreign trade volume rises by 12.7% in Hebei

The foreign trade volume of North China's Hebei province rose 12.7 percent year-on-year to 364.23 billion yuan ($52 billion) in the first 11 months of the year, local authorities said on Tuesday. The province's exports totaled 214.71 billion yuan during the period, up 6.4 percent, while its imports rose 23.1 percent to 149.52 billion yuan, said the customs in the capital city of Shijiazhuang. The province's trade with economies along the Belt and Road rose 18.9 percent to 116.78 billion yuan, and its trade with the Association of Southeast Asian Nations grew 33.7 percent to 39.54 billion yuan. Its trade with Australia and Brazil saw double-digit growth from January to November, up 61.9 percent and 24.6 percent, respectively.

COMPANIES AND MARKETS

Business climate sees steady improvement

Chinese firms reported an improving business climate in the fourth quarter of this year, a central bank survey showed. The business climate index stood at 55.5 percent in the fourth quarter, 2.2 percentage points higher than in the third quarter, according to a report from the People's Bank of China, whose results are based on surveys of over 5,000 industrial firms. Respondents also reported improving profitability, with the index rising 2 percentage points from the previous quarter to 57.3 percent. About 60.5 percent of surveyed entrepreneurs said the macroeconomy was running smoothly. Sentiment for product selling prices and raw material purchasing prices both improved quarter on quarter, edging up 1.9 percentage points and 0.8 percentage point, respectively.

Ito-Yokado sustains momentum in Sichuan

Japanese retailer Ito-Yokado has shared benefits from consumption upgrade in west China, said Tomihiro Saegusa, president of Japanese retailer Ito-Yokado. Saegusa arrived on Sunday in Chengdu, capital of Southwest China's Sichuan province. Nine of 10 Ito-Yokado stores in China are situated in Chengdu's downtown and surrounding area. Ito-Yokado entered the Chinese market in 1996.

Cambodian carriers expand flights to China

Two Cambodia-registered airlines have announced new routes connecting Phnom Penh, capital of Cambodia, to destinations in China, an English-language daily newspaper reported on Monday. Carrier Cambodia Airways will launch a regular nonstop flight between Phnom Penh and Shenzhen in southern China on Dec 27, the Khmer Times reported, citing an airline's statement. The same company will begin flying to Chengdu, the capital of Southwest China's Sichuan province, from Phnom Penh on Jan 2. Shenzen and Chengdu are important transportation hubs.

AROUND THE WORLD

Thailand central bank expects 2.8% growth

In a seminar held in Bangkok on Monday, the Bank of Thailand (BoT) governor said he predicts the Thai economy to expand by 2.8 percent next year as a result of government budget disbursement and investment in mega infrastructure projects. "The economic growth rate would be higher at 2.8 percent, comparing to 2019's GDP at 2.5 percent," said BoT Governor Veerathai Santiprabhob, "The 2020 budget bill would pass the parliament, megaprojects are already making progress so as many investment projects; also 5G communication networks will begin and projects related to financial institutions will emerge." The governor said Thailand could do better than a 2.8 percent growth projection.

S. Korea plans more treasury bond sales

The South Korean government's treasury bond sale would rise in double digits next year, the country's finance ministry said on Monday. The Ministry of Economy and Finance said that 130.2 trillion won ($111.8 billion) worth of government bonds planned to be issued in 2020. It was up 28.0 percent, or 28.5 trillion won, from this year, marking the fastest yearly growth since 2009 when the global financial crisis rattled the economy.

Iran boosts commodity exports to Uzbekistan

Iran exported $152 million worth of commodities to Uzbekistan during the first eight months of the current Iranian year (March 21-Nov 21), Eghtesadonline news website reported on Monday. The figure registered a 60 percent rise compared with last year's corresponding period, the Chairman of Trade Promotion Organization of Iran Hamid Zadboum was quoted as saying. Stone-cutting machines, cement, propane, glass sheets, construction stones and furniture were Iran's main exports during the period under review. Iran mainly imports cotton, yarn, potassium chloride, phosphate fertilizer and pinto beans from Uzbekistan.

Singapore's CPI-All Items inflation surges

Singapore's Consumer Price Index for all items (CPI-All Items) grew 0.6 percent year-on-year in November, compared to a 0.4-percent growth in October, according to a joint statement issued by two government authorities. The Ministry of Trade and Industry (MTI) and Monetary Authority of Singapore (MAS) said in the joint statement that the CPIAll Items inflation increased in the month because of an increase in private road transport inflation and smaller declines in the costs of retail goods and accommodation, even as services inflation eased. In November, the MAS core inflation, which excludes the costs of accommodation and private road transport, was unchanged at 0.6 percent from October as lower services inflation was offset by a smaller decline in the cost of retail goods.

China Daily - Agencies