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The following lists highlights from Chinese press reports on Friday:
- China is likely to inject looser credit in the rest of this year, with social financing expected to rise faster relative to nominal GDP, the 21st Century Business Herald said in a commentary. The economy's credit demand will likely improve after the central bank this week reported weaker-than-expected September loan data, as weakening internal activities reduced credit needs, said the newspaper. However, corporate and government bond issuances are likely to rebound, the newspaper said. Infrastructure investment is likely to strengthen through early next year as the government's cross-cycle policies kick in, increasing social financing demand, while exports will continue to outperform, said the newspaper. The country's domestic circulation has large potential and maneuverability, said the herald.
- China should not substantially tighten lending, and its fiscal and monetary policies should prioritize pro-growth and really seek to be proactive and stable, the 21st Century Business Herald reported citing a report by a government-affiliated advisory group under the Renmin University. The debt levels of the government and businesses may have been overestimated if using the debt/GDP formula, it said. Instead, China's debt ratios are seen lower if measured as share of assets, the newspaper said citing the report. Given China's emphasis on economy, high savings and fast growth, its indebtedness cannot be compared directly with western and other developing countries, the newspaper reported citing Nie Huihua, a lecturer of Renmin University.
- China will actively seek to join the CPTPP, promote the implementation of RCEP and pursue free trade agreements, Premier Li Keqiang said at the opening of the Canton Fair on Thursday, according to a readout by Xinhua News Agency. China will continue to be a fertile ground for foreign investments, open up service sector and support foreign investment in high-end manufacturing and the less-developed central-west regions, Li said. China is confident of achieving this year's economic targets even as the recovery faces rising challenges, and it will use policies to boost the production of commodities and key machine parts, said Li.