Chinese Economics Thread

[SanWenYu]

The number of airline passengers reached a historic high in August. The 63.964 million trips in total is a growth of 98% YOY. It is also 4.5% more than that of Aug 2019. Airline passenger traffic have fully recovered from the pandemic.

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8月份，中国民航旅客运输规模创历史新高，完成旅客运输量6396.4万人次，同比增长98%，较2019年同期增长4.5%。其中，中国南方航空、中国国际航空、中国东方航空、中国海南航空、中国春秋航空、中国吉祥航空6家航司总计完成旅客运输量5787.3万人，环比增长5.7%。

 

[SanWenYu]

PBOC is also to require the commercial banks to lower the interest rates on balances of the existing mortgages by about 0.5% in average. The governor of the central bank thinks it can benefit more than 50 million Chinese families and save them 150 billion yuans in interest payments every year.

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人民银行拟指导银行对存量房贷利率进行批量调整，将存量房贷利率降至新发放贷款利率的附近，我们预计平均下降幅度在0.5个百分点左右。之所以说是平均，因为贷款在不同时期放的，不同时期、不同地区、不同银行，发放的存量房贷利率水平不一样，我们预测下降的幅度是一个预期的平均数。银行下调存量房贷利率，有利于进一步降低借款人房贷利息支出，我们预计这一项政策将惠及5000万户家庭，1.5亿人口，平均每年减少家庭的利息支出总数大概1500亿元左右，这有助于促进扩大消费和投资，也有利于减少提前还贷行为，同时还可以压缩违规置换存量房贷的空间，保护金融消费者的合法权益，维护房地产市场平稳健康发展。

 

[Jiang ZeminFanboy]

A short description of what PBoC governor Pan said below. Good first steps, austerity doesn't work. Now we only need a fiscal package from central government and the economy is going back to booming like before covid

https://twitter.com/i/web/status/1838423099496440300

 

[curiouscat]

A short description of what PBoC governor Pan said below. Good first steps, austerity doesn't work. Now we only need a fiscal package from central government and the economy is going back to booming like before covid

https://twitter.com/i/web/status/1838423099496440300

I’m sure PBOC knows a lot more than any of us do but I'm worried that with big stimulus the housing bubble will just start growing again and we’ll be right back to where we started.

 

[gelgoog]

I think it is smart of them to load up on Chinese stocks which are depressed as heck.

 

[Quan8410]

I’m sure PBOC knows a lot more than any of us do but I'm worried that with big stimulus the housing bubble will just start growing again and we’ll be right back to where we started.

Lol, they are not bubling again,at least at the extend they did in the past. 3 red lines.

 

[proelite]

Maybe they're just waiting for a rate cut by the Fed like everyone else.

 

[Maikeru]

You and a million others!

 

[siegecrossbow]

A short description of what PBoC governor Pan said below. Good first steps, austerity doesn't work. Now we only need a fiscal package from central government and the economy is going back to booming like before covid

https://twitter.com/i/web/status/1838423099496440300

Maybe they were waiting until the rate cut? Rumor has it that the Feds will cut another 50 points during the next decision.

 

[Pepper]

XI PUMP MY BAGS PLS