The agency expects China's official manufacturing PMI to fall to 50.6 in November

Summary The central bank cut interest rates in November, showing that the current economic downturn is relatively high, and some market participants expect the rate cut cycle has started. Whether the central bank will cut interest rates again, future economic data will be a key factor. Institutional sources believe that although the production of the APEC meeting declined in early November...
The interest rate cut by the central bank in November showed that the current economic downturn was relatively high, and some market participants expected the rate cut cycle to be opened. Whether the central bank will cut interest rates again, future economic data will be a key factor. Institutional sources believe that although the production of the APEC meeting declined in the first half of November, the supply decreased and the prices of production materials and major industrial products stabilized, but continued to accelerate in the middle of the year, indicating that the demand side has not improved significantly.

Zhang Xiaojun, spokesperson of the China Securities Regulatory Commission, said that the preliminary draft of the registration reform plan has been completed and is scheduled to be reported to the State Council before the end of November. More urgent than the registration system is the deposit insurance system. The deposit insurance system is still relatively unfamiliar to Chinese depositors who have become accustomed to the state's implicit guarantee of deposits. It is expected that in December, the specific design arrangements for the deposit insurance system will be made public. The Central Economic Work Conference is approaching, and various economic and financial policies have entered a period of intensive gestation. The heavyweight policies that will be introduced before and after the economic work conference may be previewed in the capital market and deserve close attention.

Next week, the world's major economies are welcoming intensive economic data. Japan, France, Germany, the Eurozone, and the United States will all publish PMI data. Next Tuesday, Australia announced the RBA interest rate decision and the third quarter current account value; next Wednesday, Australia released the third quarter GDP annual rate, the euro zone released October retail sales monthly rate, the Bank of Canada announced interest rate resolution; next Thursday, the Bank of England, the euro The central bank announced the interest rate decision; next Friday, the United States released data on the unemployment rate in November and the non-agricultural employment in November.

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