April 23, 2024 02:01 GMT
MNI China Press Digest Apr 23: Capital Market, A-shares, Pork
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MNI picks key stories from today's China press
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Highlights from Chinese press reports on Tuesday:
- China will design rules and formulate policies using market concepts and continue to deepen capital market reform, Xinhua News Agency reported citing Premier Li Qiang. It is necessary to improve issuance, trading and delisting systems to promote a virtuous cycle of investment and financing, said Li. Efforts will be made to improve the quality of listed companies, enhance listed companies' awareness to increase dividends, strengthen supervision, and increase punishment for violations of laws and regulations, Li said.
- Central Huijin, a Chinese sovereign fund may have purchased more than CNY300 billion in A-share ETFs in Q1, Securities Times reported citing the Q1 report of public funds. Central Huijin said early February it would expand the scope of ETF holdings, continue to increase the scale of holdings, and resolutely maintain the smooth operation of the capital market. The latest guideline for capital market development released earlier this month highlighted the establishment of a fast approval channel for ETFs which is expected to attract more incremental funds to the stock market, the newspaper said.
- Pork prices should gradually increase in H2 given continued falls in production capacity, according to analysts at Sinolink Securities. The industry has seen a drop in newborn piglets which, combined with a rebound in demand, means prices will oscillate upward in May, said researchers at Everbright Securities. Hogs fetched an average price of CNY14.55 per kg in March, up 4.08% from February, and the slaughter weight of pigs has returned to normal levels, China Post Securities said. (Source: Yicai)
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