MNI China Press Digest, April 16:Fiscal, Financial, New Energy

     BEIJING (MNI) - The following lists highlights from Chinese press reports

on Thursday:

     The Chinese government will shift its focus from monetary to fiscal policy

in the following days, including issuing Special Chinese Government Bonds and

increasing the target fiscal deficit ratio as previously promised, China

Securities Journal reported citing Yan Se, the chief economist with Founder

Securities. Zhang Xu, the chief fixed-income analyst with Everbright Securities

told the Journal that Q1 data showed that every CNY100 billion in long-term

liquidity released by the central bank translated into CNY350 billion in loans.

This indicated that the money has not been trapped in the money market and the

transmission for monetary policy is obstructed, Zang said. 

     China should intensify its countercyclical adjustment in the face of

greater external risks as international financial markets and the global economy

have been significantly affected by the coronavirus pandemic, according to a

statement on the government website. The statement, which followed the meeting

of the Financial Stability and Development Committee late Wednesday, said China

should stabilize the economy from both the supply and demand side with quantity

and structural tools, and implement measures to support private and small

companies. 

     China will build 78,000 charging piles in 24 provinces this year and this

is expected to drive over CNY20 billion of spending on electric vehicles, the

Securities Daily reported citing the State Grid Corporation of China. The

provinces include Beijing, Jiangsu, Hunan and Qinghai. 

--MNI Beijing Bureau; +86 (10) 8532-5998; email: wanxia.lin@marketnews.com

--MNI Sydney Bureau; +61 405322399; email: lachlan.colquhoun.ext@marketnews.com

[TOPICS: M$A$$$,M$Q$$$,MI$$$$]