MNI China Press Digest, Sep 9: Sino-US, Special Bond, SME Loan

MNI (Beijing) - The following lists highlights from Chinese press reports on Wednesday:

U.S. politicians should recognize that politics ultimately serves economic developments and that China and the U.S. could provide each other with favourable development opportunities when they choose to cooperate, the People's Daily said in an editorial. The U.S. should stop obsessing over ideological differences and the conflicts brought by globalisation and free trade, and instead recognize that only cooperation and mutual benefits would help future developments, the official newspaper said.

China should consider widening the use of local government special bonds to boost high-tech developments such as big data, the Internet of Things and smart cities, the Securities Times said in a front-page commentary. The proceeds from the record issuance of special bonds this year have not been matched with a sufficient number of profitable projects, and some local governments are presenting less profitable projects that may incur default risks, the newspaper said.

Chinese banking regulators are relaxing lending standards for private and small companies, allowing more SMEs effected by the epidemic to delay repayments, the 21st Century Business Herald reported citing two unnamed sources from state-owned banks. Banks are required to increase credit loans and extensions for SMEs, including those which may carry higher risks, the newspaper said. SMEs with questionable loans can apply for deferred repayment if they hold effective guarantees and commit to retaining workers, the newspaper said.