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MNI China Press Digest Aug 9:Infrastructure,Trade,Deleveraging

     BEIJING (MNI) - The following lists highlights from the Chinese press for
Thursday:
     China's National Development and Reform Commission's (NDRC) may boost the
issuance of special local government bonds through fiscal budget and enhance
policies on infrastructure projects that can generate cash flow, Shanghai
Securities News said, citing Ye Jitao, a specialist on public-private
partnerships by the NDRC and the finance ministry. China may implement policies
to establish long-term investment and financing mechanisms for infrastructure to
stabilize investment, the paper said citing an unidentified source involved in
recent studies. The new policy may encourage private funds to participate in PPP
programs in some industries needing capital, the newspaper said citing Ye.
     China has shown the determination to protect its rights by imposing
retaliatory tariffs on U.S. goods at noon on Aug. 23, departing from the usual
practice of beginning at midnight, 21st Century Business Herald reported, citing
Tu Xinquan, director of China Institute of WTO Studies. New tariff removed crude
oil, which was on the first list, as China needs more imports, the newspaper
said, citing Bai Ming, deputy director of international market research
institute under the Ministry of Commerce (MOFCOM). New tariffs on automobile
imports will strike the U.S. hard with little effects on China, after
low-emission automobiles were added onto the list, the newspaper cited Bai as
saying.
     Debt-equity swap programs will be the key approach for structural
deleveraging, China Securities Journal reported, after five ministries published
the focus of China's deleveraging campaign in 2018 yesterday. China will provide
policy support for capital market operations involved in debt-equity swaps,
including initial listing, private placement and major asset restructuring, the
newspaper said. China will use monetary policy tools like required reserve ratio
cuts to provide long-term financial support for debt conversion programs, the
newspaper added.
--MNI Beijing Bureau; +86 (10) 8532-5998; email: sherry.qin@marketnews.com
--MNI Beijing Bureau; +86 10 8532 5998; email: william.bi@mni-news.com
[TOPICS: M$A$$$,M$Q$$$,MBQ$$$]

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