MNI China Press Digest, Aug 28: Consumption, Special Bonds, 5G

     BEIJING (MNI) - The following lists highlights from Chinese press reports

on Wednesday:

     China's State Council has released 20 new policies to boost consumption,

according to a statement on the government website late Tuesday. These include

policies to relax or remove purchase restrictions on automobiles, to promote

consumption in the night time economy and during holidays, to support the

replacement of old intelligence products with new ones, and to develop chain

convenience stores.

     More than 20 provinces including Guangdong, Sichuan and Zhejiang have used

up their annual quota of local government special bonds issuance and only

CNY287.73 billion of special bonds are left to be issued this year, Shanghai

Securities News reported. It is possible that those provinces which have used up

their quota this year could use the remaining balance of special bond issuance

from last year, the newspaper said.

     5G technology will be officially commercialised by September this year and

will boost China's digital economy by CNY15.2 trillion in the years from 2020 to

2025, according to the Science and Technology Daily. Citing Wang Zhiqin,

associate dean of the China Academy of Information and Communications

Technology, the Daily reports that the integration of 5G with artificial

intelligence and big data will promote a profound transformation in the digital

economy, spanning areas of management and production.

--MNI Beijing Bureau; +86 (10) 8532-5998; email: wanxia.lin@marketnews.com

--MNI Sydney Bureau; +61 405322399; email: lachlan.colquhoun.ext@marketnews.com

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