Money rates off highest levels in months

CHINA’S short-term money rates eased from levels around their highest in months yesterday after the country’s central bank stepped up liquidity injection to meet higher demand for cash towards the year-end.

The People’s Bank of China injected 200 billion yuan (US$31.39 billion) through seven-day reverse repos into the banking system, the biggest daily injection since late October, offseting 10 billion yuan worth of such loans expiring on the same day.

1.34 million new investors open accounts

NEARLY 1.34 million new investors in China opened accounts to trade stocks listed on the Shanghai and Shenzhen bourses in November, industrial data showed.

This marks an increase of 36.38 percent from the previous month, according to China Securities Depository and Clearing Corp. (CSDC). At the end of last month, the number of investors with A-share accounts stood at 196 million, CSDC data showed. The country saw about 18.26 million new investors in its stock market in the first 11 months of this year, surpassing the total figure of 2020 and hitting a record high since 2017, according to CSDC.

Regulator to suspend some flights

CHINA’S aviation regulator will suspend two China Eastern flights from New York to Shanghai from Jan. 3 due to COVID-19 cases.

The regulator will also suspend two Xiamen Airlines (XiamenAir) flights from Los Angeles to Xiamen from the same date, the official news website under the Civil Aviation Administration of China (CAAC) reported. Ten passengers in total on Dec. 14 China Eastern and XiamenAir flights tested positive for COVID-19 upon arrival in China, triggering the CAAC to halt two subsequent flights, the website said.

Nation’s oil demand expected to peak by 2030

CHINA’S oil consumption is expected to keep growing for a decade on robust chemical demand, reaching a peak of about 780 million tons per year by 2030, according to a research institute affiliated with China National Petroleum Corp. (CNPC).

Last year, the research group said that China’s oil demand would peak at 730 million tons per year by around 2025. In its latest report, the group said diesel fuel, gasoline and kerosene consumption are forecast to peak sometime around 2025 at about 390 million tons per year. The strong petrochemical demand will support rising consumption through to 2030.