BOC SAYS DON'T EXPECT RATES TO RETURN TO PRE-COVID LEVELS

MNI BRIEF: BOC Says Time For Rate Cut Is Nearing

BOC REITERATES TIME FOR RATE CUT IS GETTING NEARER

MNI WATCH: CNB Seen Cutting 50Bps to 5.25%, Signal Slower Pace

MNI China Daily Summary: Tuesday, April 30

MNI BRIEF: China To Keep Tackling Risks In Real Estate, Debts

US Treasury Auction Calendar

US EIA:NAT GAS STORAGE +59 BCF TO 2,484 BCF APR 26 WK

MNI: US MAR FACTORY ORDERS +1.6%; EX-TRANSPORT NEW ORDERS +0.5%

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

MNI China Press Digest Apr 22: FDI, Tech Listing, Local Tax

MNI (Singapore)
MNI (Beijing)

MNI picks key stories from today's China press

Policy NewsCentral Bank NewsPBOCHomepageAPACChinaStoryBond Market NewsEM Policy NewsEM Policy StoryEM Central Bank NewsPeoples Bank of ChinaPolicy StoryRegion
True

Highlights from Chinese press reports on Monday:

  • China’s commerce ministry and nine other departments have jointly released 16 measures to facilitate and encourage foreign institutions to invest in domestic technology enterprises, Shanghai Securities News reported. Applications for qualified foreign institutional investor (QFII) and RMB qualified foreign institutional investor (RQFII) will be reviewed and approved efficiently. Authorities will continue to improve forex management under direct investment and better support foreign investors’ equity investments especially via the Qualified Foreign Limited Partner (QFLP) scheme.
  • China Securities Regulatory Commission’s latest 16 measures to provide comprehensive support for technology enterprises from listing financing, mergers and acquisitions, bond issuance and private equity investment will likely help normalise IPOs after the authorities tightened listing rules to strengthen market regulations, Yicai.com reported. High-quality tech firms meeting listing conditions will return to the IPO process, as the new measures emphasise increased review efficiency and transparency, and improving the “green channel” for listing and financing, said Yicai citing analysts.
  • Beijing can introduce a local resource and environmental protection tax to provide a stable source of revenue should fiscal reforms happen, according to Jia Junxue, director at the China Fiscal Society and professor at Renmin University. However, policymaker reforms may not be as beneficial compared to the tax-sharing changes of 1994, due to the maturity of today's system. Local governments see revenue and expenditure weakening, indicating a problem with fiscal stability, said Yin Heng, professor at the National Institute of Development Strategy of Renmin University.
250 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

Highlights from Chinese press reports on Monday:

  • China’s commerce ministry and nine other departments have jointly released 16 measures to facilitate and encourage foreign institutions to invest in domestic technology enterprises, Shanghai Securities News reported. Applications for qualified foreign institutional investor (QFII) and RMB qualified foreign institutional investor (RQFII) will be reviewed and approved efficiently. Authorities will continue to improve forex management under direct investment and better support foreign investors’ equity investments especially via the Qualified Foreign Limited Partner (QFLP) scheme.
  • China Securities Regulatory Commission’s latest 16 measures to provide comprehensive support for technology enterprises from listing financing, mergers and acquisitions, bond issuance and private equity investment will likely help normalise IPOs after the authorities tightened listing rules to strengthen market regulations, Yicai.com reported. High-quality tech firms meeting listing conditions will return to the IPO process, as the new measures emphasise increased review efficiency and transparency, and improving the “green channel” for listing and financing, said Yicai citing analysts.
  • Beijing can introduce a local resource and environmental protection tax to provide a stable source of revenue should fiscal reforms happen, according to Jia Junxue, director at the China Fiscal Society and professor at Renmin University. However, policymaker reforms may not be as beneficial compared to the tax-sharing changes of 1994, due to the maturity of today's system. Local governments see revenue and expenditure weakening, indicating a problem with fiscal stability, said Yin Heng, professor at the National Institute of Development Strategy of Renmin University.