Archives of “May 25, 2021” day

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China State Planner once again says will address abnormal fluctuations in commodities such as iron ore, copper, corn

  
  Analysis

The National Development and Reform Commission of the People’s Republic of China (NDRC) is the State Planner

  • says will make plans to cope with abnormal fluctuations in commodities such as iron ore, copper, corn
This is not a new piece of information, saying again what we have been getting from China in past days, For example:

Singapore Q1 GDP +3.1% q/q and +1.3% y/y (expected +0.9%)

  
Analysis, Economy

Data from Singapore for the January to March quarter 2021

GDP beats.
From the Ministry of Trade and Industry (bolding mine):

 

  • maintains 2021 GDP growth forecast at 4-6% range
  • says recent tightening of domestic restrictions & border controls represents setback to segments of economy
  • says broader economy should see recovery this year in line with global economic rebound
  • says possible that economy will outperform official 2021 growth forecast, but significant downside risks remain
  • says covid-19 is generally well under control domestically; making good progress vaccinating entire population
  • says pace of recovery of various sectors of economy this year is likely to be more uneven than earlier expected
  • says border entry restrictions on south Asia foreign workers will exacerbate severe labour shortages at construction sites & shipyards

 

more to come

Chinese media report many China Bitcoin miners plan to relocate due to increased regulation

  
  Analysis

A piece from China’s Global Times flagging moves of miners oiut of China into the US and Canada.

  • considering moving out of China after the regulators re-emphasize plans to outlaw bitcoin-related payment services,
  • Cao Yin, managing director of Digital Renaissance Foundation and a bitcoin investor, told the Global Times that as far as he knew, some bitcoin mines in China, particularly those that use thermal power, may move abroad to the US and Canada.
Here is the link to the GT piece for more. Keep in mind that GT is s state sponsored tabloid newspaper and should be read with that in mind.
Meanwhile BTC retrace of weekend moves:
A piece from China's Global Times flagging moves of miners oiut of China into the US and Canada.
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