Stocks in China today are getting off to an up start.
We have PMIs due tomorrow:
If they manage to come in better than in the previous month that'd sit well with authorities ahead of the NPC (if you know what I mean). State media this morning has also been vocal with its expectations for 2% or below inflation .
The National People's Congress (NPC) begins on Sunday March 5 and its not unusual to see a bid on stockmarkets throughout the meeting. The NPC will include:
- economic goals are likely to be announced
- leadership changes at the People's Bank of China - Zhu Hexin, is head of state-run financial conglomerate Citic Group and is expected to be anointed as new governor
The yuan slide should be arrested, or at least subdued during the meeting also.
“Two Sessions” will kick off in Beijing:
- the Chinese People's Political Consultative Conference (CPPCC) will begin on March 4.
- the 14th National People's Congress (NPC) will open its first annual session the following day
