The China in the fourth quarter, GDP rose by 4% per year (less than 4.9% in July-September), over the + 3.6% expected by analysts, closing the whole of 2021 with an increase of 8.1% which is the highest in a decade. This was reported by the National Statistics Office, according to which the increase on a cyclical basis is 1.6%, better than 0.2% in the previous three months and 1.1% expected on the eve: despite the annual growth is better than estimates, “the Chinese economy is facing triple pressure, including shrinking demand, supply shock and weaker expectations,” the Bureau warned.
The Central Bank of China cut its medium-term borrowing costs for the first time since April 2020, despite market expectations, in response to the slowdown in the economy. In a note, PBOC reported that it reduced the rate on 700 billion yuan ($ 148.6 billion) of 1-year medium-term (MLF) loans to some financial institutions by 10 basis points to 2.85%. , from 2.95% in previous transactions. With 500 billion yuan of Mlf loans maturing today, the deal brought new injections of funds into the banking system to 200 billion net
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Source From: Ansa
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