Trial now

(Z1) Off Lows, But Remains Weak


Still Vulnerable


Bullish Price Sequence

MNI (Sydney)

The following lists highlights from Chinese press reports on Thursday:

  • The PBOC may not release excessive liquidity in the near term as overall liquidity expansion will push up asset prices and serve little use to the real economy, Economic Information Daily reported citing Wang Dan, the chief economist with Heng Seng Bank. Liquidity will remain at the current tight balance for a while, leaving policy room for international uncertainties, Wang Yifeng, the chief analyst of finance with Everbright Securities told the newspaper.
  • China is likely to cut both its fiscal deficit and the deficit to GDP ratio to improve the efficiency of government funds and the sustainability of development, the Securities Times reported citing Ye Fan, the chief analyst in Northwest Securities. China will not issue special bonds for the pandemic in 2021 and may maintain a deficit ratio around 3.3% as well as CNY3.3 trillion of special debt, the newspaper said citing CITIC Securities Policy Research Group. China's "dual circulation" development model is expected to take shape at a faster pace, and the expansion of domestic demand with fiscal policy support will be the focus of discussions at the National People's Conference beginning next week, the report said.
  • The U.S. should not attack China with sanctions to contain its development, the Global Times said in an editorial referencing comments by Senate Majority Leader Chuck Schumer on China's rise and President Joe Biden's call for "extremely fierce competition". The U. S. must respect China's strengths, given China's huge population and potential consumption with an auto market twice the size of the U.S., the newspaper said. China's political system responded well to the COVID-19 epidemic, and it has a strong strategic planning ability to turn the blueprint into reality, unlike the U.S. which has seesaw policies that lead to emptiness and waste, the editorial said.
MNI Sydney Bureau | +61-405-322-399 |
MNI Sydney Bureau | +61-405-322-399 |