A Chinese state-run paper has warned against potential pitfalls from Beijing's moves to invest a portion of pension funds in capital markets, including the prospect that it could lead to graft and mismanagement.
There is growing evidence that not only is the global crude oil market back in balance, but there is a strong possibility that global demand is already outstripping daily oil output. Another big drop in U.S. oil inventory, the 6th in 7 weeks, and a 6.7 GDP reading in China adds more weight to the global oil supply versus daily production argument.
The key to successful deleveraging of corporate debt is a clear line between the government and the marketplace, a commentary in the People's Daily, the official newspaper of the ruling Chinese Communist Party, said Wednesday.
We've been searching so long to find an answer. Will the Federal Reserve have one? Crude, like every other market, is chopping around waiting for the Federal decision on interest rates. While it seems unlikely they will raise rates in September, the suspense has been killing liquidity in the market. Oil prices swing on obscure headlines and sometimes move with the dollar and other times do not.
China's imports unexpectedly rose in August for the first time in nearly two years, boosted by coal and other commodities, suggesting domestic demand may be picking up and putting the world's second-largest economy on a more balanced footing.
China is lauding its successful hosting of the G20 summit in scenic Hangzhou, with open confrontation largely avoided and broad consensus reached over the fragile state of the global economy and the need for a wide range of policies to fix it.
On the face of it, China's central bank has room to cut interest rates to try to lift the economy, but sources say evidence companies and banks are hoarding cash has reinforced policymakers' view there is no major benefit in easing policy further.