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🌹【August 7 Morning News Highlights】
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1. The General Office of the Central Committee of the Communist Party of China and the General Office of the State Council issued (Several Regulations on Reducing Burdens for Grassroots by Rectifying Formalism) and sent out a notice requiring all regions and departments to earnestly comply. The notice pointed out that formalism and bureaucratism are chronic diseases that must be resolutely corrected. The grassroots are the 'last mile' for implementing the central decision-making and deployment and must not be constrained by formalism and bureaucratism.
2. The latest C50 Wind Index results from the Financial Association show that the market expects that the government's debt support for new social financing will increase year-on-year in July, while the substitution effect may lead to a negative growth in new loan scale, but the growth rate is still relatively high. Among them, the median market forecast for new RMB loans in July is -0.3 trillion yuan; the median forecast for new social financing in July is 1.51 trillion yuan. Regarding the money growth rate, with a low base, fiscal spending has increased, and several market institutions expect that the year-on-year growth rate of M1 and M2 may rise slightly. In terms of prices, the market expects that the year-on-year growth rate of CPI in July may once again show negative growth, with a median forecast of -0.1%, while the year-on-year decline of PPI may narrow compared to last month, with a median forecast of -3.4%.