China Cuts Rates to Support Fragile Economic Recovery

 

China Cuts Rates to Support Fragile Economic Recovery 

China cut its 1-year and 5-year Loan Prime Rates by 10 bps to 3.00% and 3.50%, the first reduction since Oct-24, to boost credit and consumption amid a weak recovery and trade tensions with the U.S. Major state banks also lowered deposit rates by 5–25 bps to protect shrinking net interest margins, which hit a record low of 1.43% in 1Q25. (Reuters)

COMPANY 
BCAS: SMGR IJ - Apr-25 Sales Volume

- SMGR domestic sales volume in Apr-25 grew to 1.9 mn tons (+11.3% MoM, +34.5% YoY) , while overseas sales volume came at 783K tons (-10.1% MoM, +44.9% YoY), bringing total Apr-25 sales volume at 2.7 mn tons (+4.1% MoM, +37.3% YoY) 
- YTD, sales volume came at 11.3 mn tons (+1.2% YoY). With 4M25 bag portion stood at 72.3%.

BCAS: ACES IJ - 4M25 SSSG Declined

- ACES SSSG for Apr-25 came in at –14.1%, contracted as anticipated for post-Lebaran, as well as from high-base due to Lebaran in Apr-24. This was seen across regions. 4M25 SSSG came in at –2.3%, also below guidance of ≥1%. 
- Apr-25 gross sales came in at IDR702bn (-14.7% MoM, -8.0% YoY), while 4M25 indicative sales came in at IDR2,852bn (+4.1% YoY). This is just a shy below Co's target of ≥5% sales growth. - To boost performance this year amid ongoing economic shifts, the Co prepared key strategies—including engaging promotions, a refreshed product lineup, and careful expansion into greenfield locations.