China Press Digest: Thursday, Oct. 19

By Rich Dirks

     BEIJING (MNI) - The following are highlights from the China press for

Thursday, Oct. 19:

     China's major challenge is the imbalance of people's desire for a good life

and the country's lack of development, the Economic Information Daily said in a

front-page commentary on Thursday. The country needs to change its development

methods, optimize the economic structure and transform growth momentum, the

newspaper argued. The newspaper spoke highly of the new development plan and

guidelines presented by the Chinese Communist Party leadership under President

Xi Jinping, noting that China's development needs to be innovative, coordinated,

green, open and shared. (Economic Information Daily)

     The property market is stable, though consolidation in the sector is

increasing, the Economic Information Daily, a newspaper under the official

Xinhua News Agency, reported Thursday. A property developer was quoted as saying

his company prefers to acquire more land through acquisitions instead of bidding

a high price for new land in the market. The newspaper also cited unidentified

experts as saying small- to medium-size property developers are widely facing

pressure because they are short on money, so larger property companies are in

position to acquire them. (Economic Information Daily)

     Bond market fluctuations are easing due to the positive trend in sentiment

on China's economic outlook for the rest of the year and liquidity injections by

the central bank, the China Securities Journal reported Thursday. The People's

Bank of China has conducted injections via reverse repos and its Medium-term

Lending Facility, stabilizing liquidity on the loose side to ease pressure in

the bond market. Analysts and experts are divided over the market outlook

because of uncertainties and risks, the newspaper noted. (China Securities

Journal)

--MNI Beijing Bureau; +86 (10) 8532-5998; email: rich.dirks@marketnews.com

[TOPICS: M$A$$$,M$Q$$$,MBQ$$$]