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[SMM Steel Morning News] Li Keqiang attended a press conference today * the trend of passenger car retail slowed down.
May 28,2020 09:02CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

 

Thursday, 28 May 2020

News breakfast

"rising factors

1. For the second day in a row, the central bank carried out reverse repurchase operations, with a net investment of 120 billion yuan.

On the 27th, the central bank carried out reverse repurchase operations for the second day in a row, directly increasing the trading volume from 10 billion yuan the previous day to 120 billion yuan. The central bank is expected to maintain a certain amount of liquidity in the next few days. Since April, the central bank's reverse repo operation has continued to shut down, breaking the expectation of monetary policy spiral easing and gradually causing discussion on monetary policy. There are signs that the heat of this discussion continues to rise recently. The fixed income team of CICC believes that the probability of cutting reserve requirements and interest rates in June is still there. The Citic Securities Mingming team said that while sending a signal to stabilize the capital side, it also hinted that it was difficult for monetary policy to return to the previous ultra-loose state, and the central bank had no intention of keeping the interest rate on funds at an extremely low level.

1. Guizhou Province will arrange major projects in 2020, with an annual planned investment of 726.2 billion yuan.

Guizhou Development and Reform Commission: 3357 major projects in Guizhou Province will be arranged in 2020, with an annual plan of 726.2 billion yuan. From January to April, 215.26 billion yuan was invested in major projects in Guizhou Province, accounting for 29.6 percent of the annual plan. 568 new major projects in Guizhou Province were started, 55 more than planned at the beginning of the year.

Downside factor

1. Passenger Association: the retail trend of the passenger car market slows down in the third week of May (18-24).

According to the Federation of passengers, the retail trend of the passenger car market slowed in the third week of May (18-24). Retail sales averaged 41000 vehicles a day in the third week, down 5 per cent from a year earlier. The third week of May fell 9% from the same period in April. Overall, the retail sales of the main manufacturers in the first to three weeks of May reached an average of 37000 units per day, a year-on-year growth rate of 5%, and the performance was relatively stable. Overall retail sales increased by 6% in the first three weeks of May compared with the same period in April, with a strong growth.

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