中国10年期政府债券收益率稳定在1.70%左右,仍接近历史低点,因为新年假期前交易活动保持低迷。平静的市场也反映出谨慎,投资者在本周晚些时候即将公布的12月PMI数据之前基本上采取了观望态度。最近的经济指标为中国经济描绘了一幅充满挑战的图景,2024年前11个月,中国工业企业的利润同比下降4.7%,至66674.8亿元人民币,与上一时期4.3%的下降相比,降幅更大。这种不断加深的衰退突显了持续的经济逆风,包括持续疲软的需求、根深蒂固的通缩压力和房地产行业的长期衰退。
China’s 10-year government bond yield stabilized around 1.70%, remaining close to record lows as trading activity stayed subdued ahead of the New Year holiday. The quiet market also reflected caution, with investors largely adopting a wait-and-see approach ahead of the upcoming release of December PMI data later this week. Recent economic indicators have painted a challenging picture for China’s economy, with profits at Chinese industrial firms falling by 4.7% year-on-year to CNY 6,667.48 billion in the first 11 months of 2024, marking a sharper decline compared to the 4.3% drop recorded in the previous period. This deepening downturn highlighted ongoing economic headwinds, including persistently weak demand, entrenched deflationary pressures, and a protracted slump in the property sector.