Economic Overview - In September 2024, China's total import and export value reached $525.71 billion, a year-on-year increase of 1.5%[5] - The GDP for the first three quarters of 2024 was $94.97 trillion, with a year-on-year growth rate of 4.8%, slightly below the target of around 5.0%[10] - The M2 money supply increased by 6.8% year-on-year as of the end of September, while M1 decreased by 7.4%[5] Policy Developments - New policies to support the real estate market include the addition of 1 million units for urban village and dilapidated housing renovations, with a credit scale increase for "white list" projects to 4 trillion yuan by year-end[10] - The People's Bank of China (PBOC) has initiated several monetary policy tools to stabilize the capital market, including a 0.5% reduction in the reserve requirement ratio and expected further cuts in the Loan Prime Rate (LPR) by 0.20% for 1-year and 0.25% for 5-year loans[10] Market Performance - The Shanghai Composite Index rose by 1.36%, while the Shenzhen Component Index increased by 2.95% during the week of October 14-20[32] - The average wholesale price of pork remained stable at 25.08 yuan/kg, while vegetable prices decreased to 5.79 yuan/kg and fruit prices slightly increased to 7.46 yuan/kg[17] International Context - The European Central Bank lowered its deposit facility rate from 3.50% to 3.25%, marking the third rate cut of the year, reflecting ongoing monetary easing in developed economies[8] - The UK’s inflation rate for September was reported at 1.7%, down from 2.2% in the previous month, influencing expectations for potential interest rate cuts by the Bank of England[8]
宏观周报：支持股票市场利好政策正式落地 经济结构性矛盾有望迎来好转
Guo Xin Qi Huo·2024-10-21 02:31