Markets Glued to China’s Politburo Meeting for Policy Clues

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Markets Glued to China’s Politburo Meeting for Policy Clues

Bloomberg2021-07-29

(Bloomberg) -- After a week of market turmoil, China watchers are looking for signals from a key Politburo meeting this week on whether there’s more pain to come and if the central bank will step in ...

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Tadalada
·2021-07-29
Pls like
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2
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JeromeLim
·2021-07-29
Huat huat huat
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2
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EdInvesting
·2021-07-29
Like and comment pls
Reply
2
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EdInvesting
·2021-07-29
Like and comment pls
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2
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- MochiMama:
  ok
  2021-07-29
  Reply
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AppleMango
·2021-07-29
Pls like n comments
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2
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jenx
·2021-07-29
Sell n like
Reply
5
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- AaronNg:
  Buy and like
  2021-07-29
  Reply
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Jeremy007
·2021-07-29
BUY!
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3
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Jeremy007
·2021-07-29
Buy and Buy
Reply
6
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MaxWin
·2021-07-29
Buy your head
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5
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- AnaiAnai:
  ???
  2021-07-29
  Reply
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Garylim
·2021-07-29
Buy the dip
Reply
4
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- Garylim:
  buy buy buy
  2021-07-29
  Reply
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It’s taken on heightened significance this time around after authorities roiled financial markets with a spate of regulatory overhauls that tightened the state’s grip on industries from private education to technology and property.\nEconomists warn of more regulatory clampdowns to come as Beijing places greater focus on achieving longer-term social goals of reducing inequality, promoting fair competition, improving people’s livelihoods and lowering the cost of child-rearing. At the same time, policy makers could signal a shift toward more monetary and fiscal support as economic growth risks mount.\n“On the macro level, policies are likely to be looser on the margin, but on the micro level, intense regulatory tightening will probably continue,” Larry Hu, head of Greater China economics at Macquarie Group, said in a phone interview. 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Shortly after, the government imposed more property cooling measures across major cities.\nIn December, the Politburo vowed to strengthen anti-monopoly efforts to rein in what it called “disorderly capital expansion.” That was followed by a slew of regulatory actions in the tech sector this year, including a record $2.8 billion fine on Alibaba Group Holding Ltd., as well as measures to target speculation and hoarding in the commodities market.\n“Most of these regulatory actions involve industries where the speculation of capital has made a few people rich at the cost of the benefit of the public,” said Ding Shuang, chief economist for Greater China and North Asia at Standard Chartered Plc in Hong Kong. Apart from education and property, the next focus of policy reforms could be on the pricing of medical services and the elderly care industry, which are key to people’s livelihoods, he said.\nBeijing will also need to repair some of the damage done to investor confidence by its abrupt measures, with analysts looking out for signs of this in the Politburo meeting.\n“If the meeting emphasizes that the regulations will be carried out in an orderly manner, that could at least help improve the market sentiment temporarily,” Ding said.\nThere are signs Beijing wants to restore confidence after the market rout. The central bank boosted cash injections to the interbank market on Thursday, breaking out of its usual pattern of daily liquidity operations. 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