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MNI China Daily Summary: Tuesday, March 3 

     LIQUIDITY: The People's Bank of China (PBOC) skipped open market operations
for the 11th day, leaving liquidity unchanged. Liquidity in the banking system
is reasonable and ample, PBOC said on its website.
     RATES: The seven-day weighted average interbank repo rate for depository
institutions (DR007) fell to 1.9624% from 2.0145% on Monday, Wind Information
showed. The overnight repo average decreased to 1.6036% from 1.7095%.
     YUAN: The yuan weakened to 6.9808 against the dollar from 6.9578 on Monday.
PBOC set the dollar-yuan central parity rate lower at 6.9516 compared with
6.9811 on Monday.
     BONDS: The yield on 10-year China Government Bonds was last at 2.7850%, up
from the close of 2.7750% on Monday, according to Wind Information.
     STOCKS: The Shanghai Composite Index gained 0.74% to 2,992.90. Hong Kong's
Hang Seng Index edged down 0.03% to 26,284.82.
     FROM THE PRESS: Fifteen provinces in China released investment plans valued
over CNY24 trillion, with , CNY6 trillion to be completed in 2020, the National
Business Daily reported. Local authorities are investing in medical, health care
infrastructure in addition to traditional infrastructure, the report said.
     Twenty 28 Chinese provinces have resumed inter-provincial transportations
as of Sunday, the China News Services reported citing the Ministry of Transport.
About 564 out of 966 major highway and waterway projects have resumed
constructions as of Feb. 29, the ministry was reported as saying. 
     China reported 125 additional cases of coronavirus infections on Monday
with 11 outside the epicentre Hubei province, according to the National Health
Commission. Seven cases reported in Zhejiang originated in Italy, the commission
said. In total China reported 80,151 cases of coronavirus as of March 2.
--MNI Beijing Bureau; +86 (10) 8532-5998; email: wanxia.lin@marketnews.com
--MNI Beijing Bureau; +86 10 8532 5998; email: william.bi@mni-news.com
[TOPICS: M$A$$$,M$Q$$$,MBQ$$$]
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