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MNI China Press Digest Aug 15: Treasuries, FDI, Real Estate

MNI (Singapore)
MNI (Beijing)

MNI picks key stories from today's China press

Policy NewsCentral Bank NewsPBOCHomepageAPACChinaStoryBond Market NewsEM Policy NewsEM Policy StoryEM Central Bank NewsPeoples Bank of ChinaPolicy StoryRegion
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Highlights from Chinese press reports on Thursday:

  • The People’s Bank of China could further intervene in the bond market to stem a plunge in long-dated treasury yields, as it aims to curb accumulated risks behind the rapid decline in interest rates, 21st Century Business Herald reported citing analysts. The PBOC could directly tighten liquidity, borrow treasuries to sell, keep ordering “window guidance” or impose additional regulatory measures, the newspaper said citing analysts from Huatai Securities. The Herald noted that a commentary published by a PBOC-run newspaper Wednesday vowed to crack down on illegal activities disrupting market order, which pushed the 10-year treasury yield to 2.1850% from the intraday low of 2.1700%.
  • China will ensure the national treatment of foreign enterprises and treat them equally in government procurement and industry supervision, said Vice Minister of Commerce Ling Ji at a meeting on Wednesday. China will provide equal treatment in programmes of equipment upgrade and trade-in of consumer goods and promote the orderly expansion of opening up in telecommunications, internet, education, culture and medical sectors, Ling said. The ministry will help resolve difficulties encountered in project approval, land use, environmental assessment, energy consumption and financing for foreign-invested projects, he added. (Source: MOFCOM website)
  • High-net-worth individuals want to buy new luxury homes in core areas of first-tier cities, which they believe will hold their value, 21st Century Business Herald reported. A luxury housing project developed by Sunac in Shanghai selling at CNY171,000 per square meter received a subscription rate of 183%, the newspaper said. This shows wealthy customers believe these properties will return greater value than investment in the equity market, the newspaper said citing an unnamed account director of a wealth management institution.
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Highlights from Chinese press reports on Thursday:

  • The People’s Bank of China could further intervene in the bond market to stem a plunge in long-dated treasury yields, as it aims to curb accumulated risks behind the rapid decline in interest rates, 21st Century Business Herald reported citing analysts. The PBOC could directly tighten liquidity, borrow treasuries to sell, keep ordering “window guidance” or impose additional regulatory measures, the newspaper said citing analysts from Huatai Securities. The Herald noted that a commentary published by a PBOC-run newspaper Wednesday vowed to crack down on illegal activities disrupting market order, which pushed the 10-year treasury yield to 2.1850% from the intraday low of 2.1700%.
  • China will ensure the national treatment of foreign enterprises and treat them equally in government procurement and industry supervision, said Vice Minister of Commerce Ling Ji at a meeting on Wednesday. China will provide equal treatment in programmes of equipment upgrade and trade-in of consumer goods and promote the orderly expansion of opening up in telecommunications, internet, education, culture and medical sectors, Ling said. The ministry will help resolve difficulties encountered in project approval, land use, environmental assessment, energy consumption and financing for foreign-invested projects, he added. (Source: MOFCOM website)
  • High-net-worth individuals want to buy new luxury homes in core areas of first-tier cities, which they believe will hold their value, 21st Century Business Herald reported. A luxury housing project developed by Sunac in Shanghai selling at CNY171,000 per square meter received a subscription rate of 183%, the newspaper said. This shows wealthy customers believe these properties will return greater value than investment in the equity market, the newspaper said citing an unnamed account director of a wealth management institution.