China Press Digest: Wednesday, October 25

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

Wednesday, October 25: 

     China's goal to establish a strong, modern socialist country by 2050 does

not mean "I win, you lose" for other countries, the Global Times, a Chinese

government mouthpiece, said in a commentary Wednesday. The goal is not to make

China a "new hegemon" or a "new empire," but to create a strong country that

shows kindness and shares the fruits of development. The "win-win" proposal is

also not an attempt to deceive the U.S. or other Western countries. China and

the U.S. need to reach a "win-win" situation in this century, but changing the

geopolitical mindset will be a challenge for political and diplomatic leaders in

both Beijing and Washington, the newspaper argued. (Global Times)

     Consumption-based asset-backed securities have ballooned this year, with

the subset of securities related to consumer spending ranking first in the

market, the Securities Times reported Wednesday. In the first three quarters of

this year, CNY160.804 billion in consumer spending-related ABS were issued, 4.4

times the value issued in the same period last year. Issuers are mainly internet

retail giants such as Alibaba and JD.com because small-scale companies face many

difficulties in issuing such securities. Also, the secondary market for ABS

still lacks liquidity, although the total amount of ABS issuance has jumped, the

newspaper said. (Securities Times)

     China has started pilot programs for real estate investment trusts (REITs)

in seven or eight cities and provinces, the Securities Times reported Wednesday,

citing an unidentified source. The China Securities Regulatory Commission is

speeding up its research on implementing the trusts and finalizing rules and

regulations, the newspaper said. (Securities Times)

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

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

--MNI BEIJING Bureau; +1 202-371-2121; email: john.carter@mni-news.com

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