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Zhongtai Securities: In the third quarter of 2024, the monetary policy orientation is positive, leaning towards smoothing the interest rate transmission mechanism and stabilizing interest rate differentials.
The central bank has explicitly stated that financial institutions should enhance their independent "rational" pricing capabilities in the next step to more reasonably respond to market demand and risks. In addition, the central bank pointed out that further regulatory interest rate cuts are subject to dual constraints of net interest margin and exchange rates, especially limitations from internal and external pressures.
Express News | Another bank has announced: the single transaction limit has been increased to 0.2 million yuan!
People's Daily article: A large number of incremental policies are "on the way" to achieve a 5% economic growth target enhancement.
The article by Jin Sheping published in the People's Daily stated that the mainland's confidence in achieving the target of around 5% economic growth is increasing. At the press conference for the 'Three Quarters Report,' the National Bureau of Statistics stated that looking at GDP growth rates by year, the first quarter was 5.3%, the second quarter was 4.7%, and the third quarter was 4.6%. When viewed monthly, the third quarter grew by 0.9%, maintaining positive growth for nine consecutive quarters. 'Stability' and 'progress' remain the main themes of the mainland's economy. The four major macro indicators of growth, employment, inflation, and international balance of payments show that the overall economic indicators are stable with steady progress, providing a good foundation for the mainland's macro economy to maintain resilience. The report quoted,
Express News | Many banks are increasing the limits of third-party payment platforms for quick payments, and the industry expects more banks to follow suit.
Express News | Chu Tianlong assists in the first launch of digital RMB visual hard wallet in Shenzhen.
Express News | Analysts: The expectation of increasing payment limits is expected to drive banks and institutions to have more large consumer transactions through third-party payment channels.
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