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BEIJING (MNI) - The following lists highlights from Chinese press reports
Steel producers' enthusiasm to expand production amid infrastructure
stimulus could undermine earlier policies focussed on cutting overcapacity,
reported Xinhua News Agency. Xinhua pointed to data that China's steel output
hit another high in Q1 following last year's record high. Citing Qu Xiuli, VP of
the China Iron and Steel Association, the Xinhua report said that big increases
in output would exceed market demand and squeeze profits. Xinhua also cited Li
Xinchuang, director of the China Metallurgical Industry Planning and Research
Institute, who said it was imperative to establish a long-term mechanism to
prevent overcapacity in the industry.
China is expected to accelerate the release of new policies to promote the
development of the high quality manufacturing industry, the China Securities
Journal said in a front-page report today. These policies will focus on
developing advanced manufacturing clusters, applying leading information
technology in the sector and improving the business environment for the
industry, the newspaper said. The development of high quality manufacturing will
be one of China's key tasks in the near future and is expected to help underpin
economic growth, the newspaper said.
China's top securities regulator has not relaxed profit requirements for
IPO approvals, according to a spokesman for China Securities Regulatory
Commission quoted on the official website on Saturday. The CSRC would strictly
control the quality of listed companies in areas such as corporate governance,
standardized operations and information disclosure, the spokesman said.
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