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外汇交易员· 2025-09-11 07:16
Policy & Reform Initiatives - The State Council initiates a 2-year comprehensive reform pilot program for market-based allocation of factors of production in 10 regions, including Beijing's sub-center, major cities in Southern Jiangsu, Hangzhou-Ningbo-Wenzhou area, Hefei metropolitan area, Quanzhou-Xiamen-Zhangzhou area, Zhengzhou, Changsha-Zhuzhou-Xiangtan area, nine mainland cities in the Guangdong-Hong Kong-Macao Greater Bay Area, Chongqing, and Chengdu [1] - The reform aims to promote market-oriented allocation of production factors [1] Greater Bay Area Focus - The reform supports the Greater Bay Area in cautiously exploring the transfer of private equity and venture capital shares [1] - The reform supports revitalizing existing land resources through market-based mechanisms in the Greater Bay Area [1]
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外汇交易员· 2025-09-11 05:58
Regulatory Focus - The Cyberspace Administration of China (CAC) is formulating compliance guidelines for cross-border data transfer in key industries [1] - The guidelines will clarify specific requirements and facilitation measures for data export in typical business scenarios [1] - Focus on strengthening the construction and application of technical capabilities for data export security supervision [1] - Emphasis on strengthening full-chain and full-field supervision before, during, and after the event [1]
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外汇交易员· 2025-09-11 02:53
Capital Flow - In August, investors allocated nearly $44.8 billion to emerging market stocks and debt portfolios, marking the highest level in almost a year [1] - Net inflows into China's bond and stock markets exceeded $39 billion [1] - Bond markets outside of China attracted $1.32 billion in inflows [1] - Equity markets outside of China experienced outflows of $7.4 billion after three consecutive months of inflows [1] Market Analysis - IIF economists noted that inflows increased across all countries/regions compared to the previous month, with China playing a significant role in portfolio allocation [1] - Investor positions appear increasingly sensitive to overall risk and policy noise, particularly in economies affected by external shocks or election cycles [1]