PBOC: August M2 Up 7.5% YoY, Aggregate Financing Down by 2.64 Trillion Yuan

NBS data showed that in August, the value-added of industrial enterprises above designated size increased by 5.2% YoY in real terms, with the growth rate accelerating by 0.7 percentage points from the previous month.

PBOC: On September 15, it will conduct 500 billion yuan in outright reverse repo operations with a term of 6 months.

According to a Korea Investors Service (KIS) report, rising regional protectionism and a surge of Chinese steel exports, driven by a prolonged domestic real estate slump, have been suppressing price recovery in South Korea's domestic steel market. In response, Seoul expanded anti-dumping duties to cover stainless steel alongside coated coils and structural products, providing temporary domestic price relief. However, analysts warn the benefits may prove short-lived as exporters shift to semi-finished slabs or reroute shipments through third countries to bypass measures. KIS notes that competitive advantage in the global steel market has fundamentally shifted from production cost and quality to market access rights, rules of origin, and regional quota allocations, a structural change with significant medium-to-long-term implications for Korean stainless steel exports.