MNI China Press Digest, Aug 25: Vehicle Sales, Forex, Xi

The following lists highlights from Chinese press reports on Tuesday:

Vehicle output from 11 of China's key automakers in the first 20 days in August increased 46.4% from a year earlier while sales fell 4.2%, the Shanghai Securities News reported citing data by the China Association of Automobile Manufacturers. The 11 automakers produced 1.11 million vehicles and sold 939,000 during this period, down 15.8% and 0.3% from the same period last month, the newspaper said.

China's foreign exchange regulator will focus on risk assessments and facilitate the FX business for companies that comply with regulations and have good credit, said Pan Gongsheng, head of the State Administration of Foreign Exchange in a statement on the organisation's website. SAFE will maintain the stability of the FX market as well as national economic and financial security, while liberalising cross-border trade and investment, said Pan.

China will continue policies to open up the economy, actively engage in the global economic governance system and import commodities and resources, while its closer connections with the world will elevate China's economic status, Chairman Xi Jinping said on Monday as reported in the China Daily. China's domestic economic circulation will be the main focus of China's future development model, complemented by international circulation, Xi said. He said that China should focus on expanding domestic demand and optimize its supply-side structures to keep the process of production, distribution, circulation and consumption within domestic markets.