China pitching stability
China told global executives at the China Development Forum this week that it can be a “predictable anchor” for investors even as Middle East risks rise — Beijing is using stronger daily yuan fixings and guiding corporate currency conversions to steady the market. Barclays now expects a period of yuan consolidation, and Beijing has even capped retail fuel prices to blunt import‑driven shocks and protect logistics and consumers. (reuters.com) (bitcoinworld.co.in) (thedailycpec.com)
More than 80 global executives — from Apple to Eli Lilly — attended the China Development Forum on March 22–23 at the Diaoyutai State Guesthouse. (cnbc.com)) The People’s Bank of China has set stronger daily yuan reference rates for a record 15 straight weeks, the longest weekly gaining streak on record. (bloomberg.com)) On March 9 the PBOC raised the daily fixing by 0.25% to 6.8982 per U.S. dollar, the strongest reported midpoint since April 2023. (bloomberg.com)) Chinese companies pushed net outstanding forward FX contracts to a record $107 billion at the end of February, reflecting a surge in hedging activity. (bloomberg.com)) Onshore banks sold a net $99.9 billion of foreign exchange on behalf of clients in December, the highest monthly corporate conversion on record. (bloomberg.com)) Barclays’ FX team says the official USD/CNY fixing is likely to sit in a short‑term band around 7.10–7.11 and forecasts a phase of yuan consolidation amid Middle East risks and seasonal dividend pressures. (ainvest.com)) China’s National Development and Reform Commission capped planned retail increases for gasoline and diesel at 1,160 yuan and 1,115 yuan per ton from March 23 — roughly half the rise that would have been applied under the regular pricing formula. (english.news.cn)) Beijing’s pitch of stability at the forum was underscored by a record $1.2 trillion goods trade surplus in 2025, and analysts quoting Barclays note China’s strategic and commercial crude stockpile of about 1.2 billion barrels as a buffer against oil shocks. (storage.printfriendly.com))
