Pan Gongsheng, director of the State Administration of Foreign Exchange, said that during the downturn of the global financial cycle, the medium and long-term allocation value of RMB assets is more prominent.

SHANGHAI, Jun 8 (SMM) -  SMM data showed that China's copper cathode output stood at 958,800 mt in May, down 11,200 mt or 1.2% MoM, but a rise of 17% YoY, and the output was 5,300 mt higher than expected.

As of 15:04 CST, WTI oil and Brent oil rose 0.11% and 0.05% respectively, while the U.S. dollar index fell 0.11%.

Today, the five major state-owned banks in China, including Industrial and Commercial Bank of China, Agricultural Bank of China, Construction Bank, Bank of China and Bank of Communications, lowered their deposit interest rates further.

Wanda Group issued a statement on the report of "Dalian Wanda Commercial Management's 1.9 billion equity being frozen", saying that Wanda Real Estate Group and a company have cooperated in a large-scale project in Changchun. So far, there are still financial disputes of more than 1 billion yuan between the two companies.

SHANGHAI, Jun 8 (SMM) – China’s LCO output stood at 6,918 mt in May, up 13% MoM ad 18% YoY.

SHANGHAI, Jun 8 (SMM) –China’s LMO output stood at 13,515 mt in May, up 99% MoM and 285% YoY.

SHANGHAI, Jun 8 (SMM) – Below is SMM’s exclusive data on China’s lithium hydroxide output in May and forecast for June.