Guan Tao: China's major banks have become a foreign exchange reservoir, and some should take on the role of counter-cyclical adjustment

BOCIC's global chief economist Guan Tao stated that, in the absence of direct intervention by the Chinese central bank in the foreign exchange market, major banks have become a "reservoir" of foreign exchange liquidity and play a role in counter-cyclical adjustment. Changes in banks' comprehensive foreign exchange positions reflect the domestic foreign exchange supply-demand gap, while the foreign exchange behavior of the banking sector is more pro-cyclical

BOCIC: Market sentiment continues; DRAM may see a comprehensive price increase in the second half of the year

BOCIC released a research report indicating that due to the production stoppage of DRAM manufacturers, the prices of DDR4 and LPDDR4X have surged significantly. It is expected that the DRAM market in 25H2 will experience a comprehensive price increase. Prices in 25Q3 have already risen, and a quarter-on-quarter increase of 20%-50% is anticipated in 25Q4. The contract prices of Nanya Technology and Winbond Electronics have both risen significantly, with tight market supply and demand, strong enterprise-level storage demand, and accelerated AI infrastructure construction. It is expected that the CFM flash memory market will also see a widespread price increase

The A-share securities sector experienced a surge, with Guosheng Finance rising over 7%. BOCIC, XIANGCAI, Capital Securities, HTSC, and GUOSEN SECURITIES also followed suit

BOCIC Global Chief Economist Guan Tao: By the end of August, China's foreign exchange reserves reached a new high since 2016, and the diversification of international reserve assets is steadily advancing

BOCIC's global chief economist Guan Tao pointed out that as of the end of August, China's foreign exchange reserves reached USD 3.3222 trillion, an increase of USD 29.9 billion compared to the end of July, with a growth rate of 0.91%. This growth was mainly influenced by the monetary policy expectations of major economies and macroeconomic data, the decline of the US dollar index, the rise in global financial asset prices, and the appreciation of non-US dollar currencies against the US dollar, which brought about a positive valuation effect

BOCIC changes leadership, elects Zhou Quan as chairman

On the evening of September 5th, BOCIC announced that the company held the 39th meeting of the second board of directors, during which it reviewed and approved the "Proposal for the Election of the Company's Chairman." Director Zhou Quan was elected as the chairman of the company's second board of directors, representing the company in executing company affairs and serving as a member of the board's risk control committee, with a term starting from the date of approval by the company's board of directors until the end of the term of the second board of directors