China’s government is scheduled to release economic figures this week for May, including data for trade, new loans, money supply, consumer prices, retail sales and producer prices.
The Chinese central banker Zhou Xiaochuan said on June 4 that policy makers must closely monitor the economy, after a manufacturing survey showed slower industrial growth.
The Purchasing Managers’ Index for China fell to 53.9 in May from 55.7 in April, the Federation of Logistics and Purchasing said on June 1. A separate index released by HSBC Holdings Plc and Markit Economics fell to the lowest level in a year.
Baosteel Group Corp.’s Chairman Xu Lejiang, National Development and Reform Commission’s co-chairman Xie Zhenhua, and Shanghai Mayor Han Zheng will speak at the Bloomberg BusinessWeek Global Green Business Summit on Tuesday.
China’s stocks advanced Friday, paring a weekly loss, as property developers rebounded on speculation policymakers will continue to support the industry and economic growth may be sufficient to sustain prices.
The Shanghai Composite Index, which tracks the bigger of China’s stock exchanges, added 0.94, or less than 0.1 percent, to 2,553.59 at the close on Friday. About two stocks rose for each one that fell on the measure. The CSI 300 Index added 0.3 percent to 2,744.39.
China Vanke Co. rose 1.3 percent after Radio Television Hong Kong cited the developer as saying it won’t cut home prices nationwide this month. UFIDA Software Co. paced gains for technology stocks for a second day, the biggest advance among industry groups on the CSI 300 Index.
Yuan Forwards Fell
Yuan forwards fell last week on speculation China won’t allow currency appreciation as Europe’s drive to cut budget deficits hurts demand for Asia’s exports.
Twelve-month non-deliverable forwards traded at 6.7645 per dollar in Hong Kong Friday, reflecting bets the currency will strengthen 1 percent from the spot rate of 6.8288, according to data compiled by Bloomberg. The contracts have declined 0.3 percent last week.
Government bonds were little changed Friday. The yield on the 1.77 percent treasury note due December 2013 was 2.53 percent, according to the National Interbank Funding Center. The yield climbed two basis points last week from the week before. A basis point is 0.01 percentage point.
A government report may show on June 11 consumer prices climbed 3 percent in May from a year earlier, the highest since October 2008, compared with 2.8 percent in the previous month, according to a Bloomberg News survey of economists.
The following is a list of important events in China this week:
Event Date China Offshore Wind Conference, Shanghai 7-8 Bloomberg BusinessWeek Green Business Summit, Shanghai 8 Agricultural Dev. Bank to sell 15 bln yuan, 7-year bonds 8 Government to sell 28 billion yuan, 5-year bonds 9 Iron Ore Imports 10 May Trade figures 10 New Loans 10-11 May Money Supply 10-11 May Housing Prices 10-12 May Trade Balance 10 May Producer Price Index 11 May Purchasing Price Index 11 May Consumer Price Index 11 May Retail Sales 11 May Industrial Production 11 Fixed Assets Investment 11 Government to sell 20 billion, 273-day bills 11 Government to sell 15 billion, 91-day bills 11
To contact Bloomberg News staff on this story: Stephanie Wong in Shanghai at +86-21-6104-7029 or firstname.lastname@example.org