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Financial
 
*Morgan Stanley anticipates that the Federal Reserve will cut interest rates in September and December 2026, having previously expected cuts in June and September.
 
*The State Administration for Market Regulation held the 2026 Anti-Monopoly Work Conference, emphasizing intensified efforts to dismantle local protectionism and market segmentation while deepening the crackdown on internal competition.
 
*The Party Committee of the PBoC convened an expanded meeting on March 18th, which emphasized the continued implementation of an appropriately accommodative monetary policy, steadfast maintenance of the stable operation of financial markets including stocks, bonds and foreign exchange, and the advancement of legislative work regarding the People’s Bank of China Law and the Financial Stability Law.
 
*The Party Group of the SAFE convened an expanded meeting, which emphasized enhancing the level of openness in capital account transactions, improving the monitoring and early warning mechanisms for cross-border capital flows, and strengthening macro-prudential management when necessary.
 
Industrial Economy
 
*MIIT held the 14th Roundtable Meeting for Small and Medium-sized Enterprises, which proposed targeting urgently needed key materials and weak links in the industrial chain to enhance the level of self-sufficiency in critical materials for key sectors.
 
Data
 
*MoF: Jan-Feb national general public budget revenue reached cny 4.4154tn, up 0.7% y/y, and the securities transaction stamp tax for was cny 49.9bn, a year-on-year increase of 1.1 times.
 
Mar 19 Block Trade Info
 
*Discount
 
– Ugreen Group (301606 CH) saw 28 block trades worth 115.93mn at 62.16yuan per share, 14.78pct discount from last closing.
 
– Xiling Power Science & Tech (300733 CH) saw 2 block trades worth 96.99mn at 16.00yuan per share, 6.05pct discount from last closing.
 
*Premium
 
– Kangtai Biological Products (300601 CH) saw 6 block trades worth 120.37mn at 15.50yuan per share, 8.85pct premium from last closing.
 

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