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     BEIJING (MNI) - The following lists highlights from the Chinese press for
Thursday:
     The U.S.'s trade sanction preventing the sale of chips to ZTS for seven
years will be a challenge for China, but also a big opportunity for the domestic
chip industry, the People's Daily remarked. China will likely increase its
research on chips at all costs, and the chip industry will see historical
growth, noted the Daily, citing an anonymous investor. Independent research will
not be against opening up, and China will continue to seek collaborations with
international researchers and companies, the Daily remarked.
     The government has met 70% of its target to cut tax by a trillion yuan this
year, just one month after the Two Sessions, reported Shanghai Securities News.
It focused its efforts on the manufacturing, communications, building and
high-tech manufacturing sectors, as well as other emerging industries of
strategic importance, noted the paper. The tax-cut campaign has surpassed
expectations in many ways, especially in its speed, scale and impact, said the
report, citing experts. The release of the rest of the tax and fees cutting
measures will be gradual, and they will be implemented rapidly, said the report,
citing Wang Jianfan, the Director at Tax Policy Department at Ministry of
Finance.
     Multiple provinces have assured that they will generally finish settling
their "zombie companies" in 2018, indicating that the state-owned zombie
companies settlement has been progressing rapidly, reported Economic Information
Daily. Many investors in asset management companies are optimistic on the
progress of this settlement, observed the report, citing a survey by Orient
Securities Asset Management. In the medium-to-long term, SOE reform and the
zombie company settlement will support the progress of interest rate
liberalization, the report said, citing anonymous people working in the
industry.
--MNI Beijing Bureau; +86 10 85325998; email: he.wei@marketnews.com
--MNI Beijing Bureau; +86-10-8532-5998; email: beijing@marketnews.com
[TOPICS: M$A$$$,M$Q$$$,MBQ$$$]

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