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[SMM Steel Market Morning News] Financial data are expected to pick up significantly in March compared with the previous month.
Apr 9,2020 08:52CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

Thursday, April 9, 2020

Breakfast news

 

Rising factor

1. The 25th meeting of the Financial Stability and Development Board of the State Council

First, we should step up the implementation of macro policies, make prudent monetary policies more flexible and appropriate, and put support for the resumption and development of the real economy in a more prominent position. Second, we should guide credit resources to support more small and medium-sized enterprises and private enterprises that have been hit hard by the epidemic. Third, we should give full play to the pivotal role of the capital market, constantly strengthen the building of basic systems, resolutely crack down on all kinds of counterfeiting and fraud, relax and abolish controls that do not meet the needs of development, and enhance market activity. Fourth, we should take a variety of effective ways to increase the capital replenishment of small and medium-sized banks and enhance their ability to resist risks and put in credit. Fifth, attach great importance to the international epidemic situation and the economic and financial situation, and prevent the transmission of overseas risks to China.

2. Multiple agencies expect financial data to pick up significantly in March on a month-on-month basis

Financial data are about to be released in March. According to a number of forecast analysis reports recently released by a number of institutions, most institutions expect that with the gradual weakening of the impact of the epidemic, the gradual resumption of work and production, and the gradual strengthening of macro policies, the scale of new RMB loans and new social financing in March will be significantly higher than in February. Most institutions expect new renminbi loans to be around 2 trillion yuan in March and more than 3 trillion yuan in new social financing.

3. The Ministry of Industry and Information Technology, the Ministry of Commerce, the National Development and Reform Commission and other departments have recently made intensive arrangements to ensure the high quality of the manufacturing industry.

Increasing and stabilizing investment is the key to hedging the impact of the epidemic and promoting economic growth. At present, both new and old infrastructure projects are in full swing, and the construction of major industrial projects is full of vigor. Among them, advanced manufacturing with multiplier effect has been given priority in the layout of advanced manufacturing, which has the common benefit of supply and demand. It is worth noting that the high-quality development of the manufacturing industry is being strongly promoted in a new round, and many departments, such as the Ministry of Industry and Information Technology, the Ministry of Commerce, and the National Development and Reform Commission, have made intensive deployments in recent days to release greater support signals.

Falling factor

1. WTO: world trade is expected to fall by 13%-32% in 2020

AP, April 8, according to the latest WTO trade forecast, affected by the new crown pandemic, world trade is expected to decline by 13%-32% in 2020; the decline in global trade volume is likely to exceed the decline in trade brought about by the 2008-2009 global financial crisis. Global trade in goods (goods) is expected to rise by 21%-24% in 2021.

2. China's daily average retail sales of passenger cars fell 36 per cent in March from a year earlier. Perch

According to the passenger Federation, the average daily retail sales of passenger cars in the fourth week of March (23-31) was 53900, down 24 per cent from the same period last year. Of these, daily retail sales of passenger cars averaged 16700 in the first week of March (1-8), down 50 per cent from a year earlier. Passenger car retail sales averaged 21700 a day in the second week of March (9-15), down 44 per cent from a year earlier. Passenger car retail sales averaged 25800 a day in the third week of March (16-22), down 40 per cent from a year earlier.

2. Sales of loaders fell 22.6% from January to March compared with the same period last year.

According to the statistics of the China Construction Machinery Industry Association, the 23 loader manufacturers included in the statistics in March 2020 sold a total of 14853 loaders of all kinds, down 17.2 percent from the same period last year. Of these, 14065 loaders of 3 tons and above were sold, down 16.6 percent from the same period last year. Of the total sales, 11898 units were sold in the domestic market, down 19.8 percent from the same period last year, and 2955 units were exported, down 4.68 percent from the same period last year. From January to March 2020, a total of 24277 loaders of all kinds were sold, down 22.6 percent from the same period last year. Of these, 22956 loaders of 3 tons and above were sold, down 21.7 percent from the same period last year. Of the total sales volume, 18143 units were sold in the domestic market, down 28.2 percent from the same period last year, while export sales were 6134 units, up 0.89 percent from the same period last year. Hot news

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