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MNI China Press Digest Apr 29: EVs, AI Listing, Housing

MNI (Singapore)
MNI (Beijing)

MNI picks key stories from today's China press

Policy NewsHomepageCentral Bank NewsPBOCAPACChinaStoryBond Market NewsEM Policy NewsEM Policy StoryEM Central Bank NewsPeoples Bank of ChinaPolicy StoryRegion
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Highlights from Chinese press reports on Monday:

  • China will develop new energy intelligent-connected vehicles and promote the high-end and green upgrading of the automobile industry to improve market demand, Xinhua News Agency reported citing Premier Li Qiang, during his visit to Beijing International Automotive Exhibition. China will further promote the construction of a unified national market, expand high-level opening up, relax market access and ensure fair treatment of domestic and foreign firms to encourage broader cooperation between Chinese and foreign auto companies, Li added.
  • Beijing city plans to invest over CNY100 billion via social capital and national funds to support the artificial intelligence industry in the next five years, and actively promote core AI companies to list on the Beijing Stock Exchange first, China Securities Journal reported. About 20 related companies involved in AI chips, computing power infrastructure and terminal applications have listed on the BSE to date.
  • Upper tier-two city Chengdu in Southwestern China relaxed home purchase restriction across the city from Monday, with more easing in other cities expected, Shanghai Securities News reported. Beijing city also relaxed loan restrictions for divorced families last week. After the adjustment, homebuyers who divorced less than one year and own no property can enjoy the down-payment ratio and interest rates for “first-time” buyers. Beijing still applies relatively strict policies which are expected to be further relaxed, the newspaper said citing analysts.
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Highlights from Chinese press reports on Monday:

  • China will develop new energy intelligent-connected vehicles and promote the high-end and green upgrading of the automobile industry to improve market demand, Xinhua News Agency reported citing Premier Li Qiang, during his visit to Beijing International Automotive Exhibition. China will further promote the construction of a unified national market, expand high-level opening up, relax market access and ensure fair treatment of domestic and foreign firms to encourage broader cooperation between Chinese and foreign auto companies, Li added.
  • Beijing city plans to invest over CNY100 billion via social capital and national funds to support the artificial intelligence industry in the next five years, and actively promote core AI companies to list on the Beijing Stock Exchange first, China Securities Journal reported. About 20 related companies involved in AI chips, computing power infrastructure and terminal applications have listed on the BSE to date.
  • Upper tier-two city Chengdu in Southwestern China relaxed home purchase restriction across the city from Monday, with more easing in other cities expected, Shanghai Securities News reported. Beijing city also relaxed loan restrictions for divorced families last week. After the adjustment, homebuyers who divorced less than one year and own no property can enjoy the down-payment ratio and interest rates for “first-time” buyers. Beijing still applies relatively strict policies which are expected to be further relaxed, the newspaper said citing analysts.