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The following lists highlights from Chinese press reports on Friday:

  • As China prepares to launch next Friday the southbound leg of the Bond Connect, a scheme that allows domestic investors to access Hong Kong-traded bonds, domestic institutional investors may start with buying yuan-denominated dim sum bonds as well as high-grade U.S. dollar bonds issued by Chinese local governments in Hong Kong, Yicai.com reported citing industry insiders. Investors are unlikely to buy high-risk real estate dollar-denominated bonds, the newspaper said. While the daily quota capped under CNY20 billion is very small, the opening of the southbound link will encourage domestic investors to buy dollar bonds issued by Chinese companies overseas, which generally have better liquidity and higher yield, the newspaper said.
  • The top immunologist at China's CDC Wang Huaqing suggested vaccinating children under 12 years old after over 70% of the country's 1.4 billion population were fully vaccinated, said the Global Times. The country had vaccinated more than 1 billion people aged 12 and above, the newspaper said. So far China has approved three inactivated vaccines for emergency use on those three years or older. However, based on a gradual vaccination strategy, shots have only been given to people aged 12 and above. Fully vaccinated people include over 200 million aged 60 and above and another 95 million aged 12-17, the newspaper said.
  • The trilateral Aukus alliance could make Australia a target for a nuclear strike as nuclear-armed states like China and Russia are directly facing the threat from Australia's nuclear submarines which serve U.S. strategic demands, the state-owned Global Times reported citing a "senior Chinese military expert" which the newspaper didn't identify. Deploying nuclear submarines will force China to change its attitude toward Australia and its military deployment and countermeasures, the Times said. The Aukus partnership confirms that Australia is going all the way with the US in what many have labeled a new 'cold war' with China, the newspaper said.