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The following lists highlights from Chinese press reports on Monday:
- Premier Li Keqiang failed to mention reducing money policy rates or deposit-reserve rates in his official speeches last week, a policy signal that such loosening measures will be unlikely this year, Yicai said citing market participants. The focus is more on preventing any asset bubble risk and keeping the macro-leverage ratio stable this year, Yicai said citing Zhou Maohua, an analyst with Everbright Securities. Policies will continue to tilt to supporting small firms, Zhou said.
- China's debt issuances this year will be similar to 2019 and the macro-leverage ratio will ease from 2020, said Wang Xin, PBOC's head of research, in a blog post by China Wealth Management 50. Economic growth must be maintained, however, or the debt ratio could rise much faster, Wang said. Debts held by government, corporates and residents should all be monitored, he said.
- The People's Bank of China will promote China's national carbon emission trading market this year and develop carbon futures and derivatives, PBOC Deputy Governor Chen Yulu said in an interview with the Financial News. China had about CNY12 trillion in green loans outstanding at the end of 2020, ranking it second in the world, Chen said. The PBOC will encourage financial institutions to boost green assets by assessment and discounted rate rewards, he said.