MNI China Press Digest April 19: T-Bills, GDP, Consumer Expo

Highlights from Chinese press reports on Friday:

• China's holdings of U.S. Treasury bonds fell by USD22.7 billion in February from January, with total holdings decreasing to USD775 billion, approaching the lowest since 2009, 21st Century Business Herald reported. China's concerns focus on the risk of falling U.S. bond prices caused by the Federal Reserve's potential delay to interest-rate cuts. China reduced its holdings to enhance the value-preserving effect of reserve assets, the newspaper said citing an unnamed Wall Street hedge fund manager.
• China’s stronger-than-expected Q1 growth will make the government less likely to increase stimulus policies in the short term, according to Wang Tao, chief China economist at UBS. Wang said Q1 performance was driven mainly by exports, growth in added value for the services industry, and steady results in industrial production and investment. Xiong Yi, chief economist at Deutsche Bank China said the economy may grow slightly above 1% for the next few quarters considering weakening base effects and downward pressure on prices and demand. (Source: Securities Daily)
• The China Consumer Expo held in Hainan has closed with 55,000 buyers attending this years’ event, up 10% y/y, according to data released by the organisers. Sellers launched 1,462 new products during the event, up 45% y/y, with the number of visitors reaching 373,000. Attending the event, Fan Wei, co-managing partner at Deloitte told Securities Daily this year exhibitors were using AI to provide customised services and target consumer segments.