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BEIJING (MNI) - The following lists highlights from China press reports on
The PBOC may not need to cut the reserve requirement ratio in the short
term because liquidity was still abundant in the financial system, according to
a former advisor to China's central bank. China Business News quoted Sheng
Songcheng,a former advisor to the PBOC, who pointed to a strong rebound in the
March money supply and fresh credit data as evidence of liquidity. Sheng also
predicted that policymakers may relax restrictions on shadow banking, noting
that the contraction in off-balance sheet financing by entrusted loans, trust
loans and undiscounted bankers' acceptances had decelerated since last November.
China is unlikely to carry out stronger stimulus in the short term given
that the economy is showing signs of stabilizing, according to a report in the
Economic Information Daily today. The newspaper says China is still facing
downward pressure and the fundamentals are not good enough for policymakers to
change the loosening bias in policies formulated so far this year. This should
dispel market concerns about possible tightening, the Daily said.
Chinese manufacturers which are big exporters to the US have accelerated
the move of factories to Vietnam, the 21st Century Business Herald has reported.
Vietnam's tariff-free policy and low tax rate were major attractions for the
Chinese companies, the newspaper said. U.S. retailers in the furniture, home
appliance and tire sector have been shifting their import orders from China to
Vietnam, the Herald said citing trade data company Panjiava. The U.S. has
reduced tire imports from China by 28.6%, while increasing imports from Vietnam
by 141.7%, according to the report.
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