China Standing Committee National People's Congress

Info

History

Chart

Impact:

Medium

Next Release:

Date:

Period:

What Does It Measure?

The Standing Committee of the National People's Congress (NPC) in China measures legislative activities, specifically assessing the government's policies, economic plans, and legal formulations. It primarily focuses on the implications for governance and economic management, including production, employment, and social welfare, with an emphasis on policymaking and national regulations.

Frequency

The NPC meetings occur annually, typically convening in early March, with legislative items released under preliminary estimates that may be revised or confirmed in subsequent sessions.

Why Do Traders Care?

Traders monitor the outcomes of the NPC as they provide insights into China's economic direction, policy shifts, and legislative changes that can influence the macroeconomic environment. Market participants closely watch for indications that could affect key assets, such as the Chinese yuan (CNY), Asian equities, and commodities given China’s status as a major global player.

What Is It Derived From?

The proceedings of the NPC are derived from extensive consultations, debates, and discussions among government officials, parliamentarians, and industry representatives, reflecting a broad range of public and economic interests. This process involves the examination of proposed laws, budgets, and policy initiatives, utilizing established legislative standards and practices.

Description

The NPC serves as the top legislative body in China, crafting laws and overseeing government actions to ensure alignment with the Communist Party's strategic objectives. It reflects both current economic conditions and broader ideological goals, with preliminary reports indicating intentions which may shift in later detailed reports.

Additional Notes

The NPC functions as a coincident economic measure, providing a snapshot of governmental priorities in line with national economic trends. Its results often correlate with other economic indicators and reveal insights into regional and global implications, reflecting China's interconnectedness with global markets.

Bullish or Bearish for Currency and Stocks

Higher than expected: Bullish for CNY, Bullish for Stocks.

Legend

High Potential Impact
This event has a strong potential to move markets significantly. If the 'Actual' value differs enough from the forecast or if the 'Previous' value is significantly revised, it signals new information that markets may rapidly adjust to.

Medium Potential Impact
This event may cause moderate market movement, especially if the 'Actual' deviates from the forecast or there's a notable revision to the 'Previous' value.

Low Potential Impact
This event is unlikely to affect market pricing unless there's an unexpected surprise or a major revision to prior data.

Surprise - Currency May Strengthen
Actual deviated from Forecast on a medium or high impact event and historically could strengthen the currency.

Surprise - Currency May Weaken
Actual deviated from Forcast on a medium or high impact event and historically could weaken the currency.

Big Surprise - Currency More Likely To Strengthen
'Actual' deviated from 'Forecast' more than 75% of historical deviations on a medium or high impact event and may likely strengthen the currency.

Big Surprise - Currency More Likely To Weaken
'Actual' deviated from 'Forecast' more than 75% of historical deviations on a medium or high impact event and may likely weaken the currency

Green Number	Better than forecast for the currency (or previous revise better)
Red Number	Worse than forecast for the currency (or previous revise better)
Hawkish	Supports higher interest rates to fight inflation, strengthening the currency but weighing on stocks.
Dovish	Favors lower rates to boost growth, weakening the currency but lifting stocks.

Date	Time	Actual	Forecast	Previous	Surprise