介绍:
China sets trading limit on stock index futures
A daily trading limit for the CSI 500 index will be effective from Tuesday, the latest action by China's financial regulators to prevent more losses.
China Financial Futures Exchange said Monday night that it would limit investors' daily purchases of CSI 500 index futures to 1,200 lots for rise and fall.
Officials at the exchange added that efforts to investigate illegal market activities are to be stepped up.
Chinese stocks showed signs of stabilization on Monday.
The benchmark Shanghai Composite Index advanced 2.4 percent on the day.
Oil Prices Plunge amid Greek Worries
Anchor:
Oil prices suffered their biggest selloff in five months on Monday, falling as much as 8 percent, as Greece rejected debt bailout terms.
Adding to the pressure on oil, Iran and global powers were trying to meet a July 7 deadline on a nuclear deal, which could bring more supply to the market if sanctions on Tehran are eased.
A slump that began last week gathered pace through the session, taking four-day losses to more than 10 percent.
August crude fell 7.7 percent to about 53 U.S. dollars a barrel as oil futures fell to their lowest settlement in almost three months.
For more on the oil prices, CRI's Zhao Yang earlier spoke with Liu Baocheng, Professor at University of International Business and Economics.
…
Back anchor:
That was Liu Baocheng, Professor at University of International Business and Economics, speaking with CRI's Zhao Yang.
China Cuts Retail Prices of Gasoline and Diesel
China's top economic regulator has announced a new round of fuel prices adjustment.
From Wednesday, the retail price of gasoline will be cut by 95 yuan or 15 U.S. dollars per ton.
While the retail price of diesel will be lowered by 90 yuan or 14 U.S. dollars per ton.
Under current mechanism, retail prices of gasoline and diesel will be adjusted every 10 working days except when the adjustment is less than 50 yuan per ton.
Central bank injects 50 bln into market
China's central bank has injected 50 billion yuan or 8.2 billion U.S. dollars into the money market through open market operations.
This is the fourth consecutive cash injection through the central bank's regular reverse repurchase agreement (repo) on Tuesdays and Thursdays since June 25.
The yield for the latest seven-day reverse repo stood at 2.5 percent.
The latest cash injection will offset another 50 billion yuan of reverse repo agreements due on Tuesday.
This means net cash injection on Tuesday is zero.
Meanwhile, another 35 billion yuan of reverse repo agreements are due on Thursday.
The central bank has resorted to reverse repo operations and medium-term lending facilities (MLF) to inject liquidity to the market since June.
China sees more exports, investment along Belt and Road
Official data shows China's exports and investment along the Belt and Road increased steadily in the first five months of this year.
Exports to the Belt and Road nations rose two percent year on year to 244 billion U.S. dollars in the period.
That growth outpaced China's overall export increase of 0.8 percent in the same period.
However, imports from the Belt and Road nations dropped 23.2 percent.
The drop brought China's total bilateral trade with those countries down 9.5 percent year on year to about 398 billion U.S. dollars.
Meanwhile, Chinese enterprises invested more than 4.8 billion U.S. dollars in 48 nations and regions along the Belt and Road, up 3.7 percent year on year.
The Belt and Road network passes through more than 60 countries and regions, with a total population of 4.4 billion.
Those areas accounted for more than a quarter of China's total exports and about a fifth of its outbound direct investment in the first five months of this year.
China, South Africa agree to yuan clearing arrangement
China's central bank has signed a cooperation agreement with the South African central bank to establish a yuan clearing business in the country.
So far no further details have been released.
The move aims to facilitate trade and investment between companies and financial institutions of both sides using the Chinese currency.
This is the first yuan clearing arrangement in Africa.
Yuan clearing abroad has become an important way to promote the currency's globalization.
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