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MNI China Press Digest Dec 17: PBOC, Special Bonds, Demand

MNI picks key stories from today's China press.
Central Bank NewsPolicy NewsPBOCHomepageAPACChinaEM Policy NewsChinaEM Central Bank NewsPeoples Bank of ChinaGlobalStoryRegion

MNI (BEIJING) - Highlights from Chinese press reports on Tuesday:

  • The People's Bank of China will focus on using a variety of monetary-policy tools, reduce the reserve requirement ratio and interest rates in a timely manner, maintain ample liquidity and ensure the growth of aggregate finance and the money supply matches the expected economic targets and price level, according to a statement on its website. The PBOC will also enhance the resilience of the foreign exchange market, stabilise expectations and maintain the basic stability of the yuan at an equilibrium level, the statement said.
  • Authorities will implement a "negative list" management for local government special bonds, allowing the use of funds for land reserves and acquisition of unsold homes for affordable housing, Xinhua News Agency reported citing the State Council executive meeting Monday. Authorities must optimise the project review mechanism and moderately increase the autonomy of localities to improve bond efficiency, the meeting said.
  • Chinese policymakers are expected to prioritise expanding domestic demand next year, Zhang Liqun, a researcher at the State Council's Development Research Centre, told Securities Daily after analysing last week’s Central Economic Work Conference. Zhang anticipates strong government investment next year will drive up manufacturing orders leading to higher employment and consumption confidence, and ultimately promote a new sustained recovery cycle.
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MNI (BEIJING) - Highlights from Chinese press reports on Tuesday:

  • The People's Bank of China will focus on using a variety of monetary-policy tools, reduce the reserve requirement ratio and interest rates in a timely manner, maintain ample liquidity and ensure the growth of aggregate finance and the money supply matches the expected economic targets and price level, according to a statement on its website. The PBOC will also enhance the resilience of the foreign exchange market, stabilise expectations and maintain the basic stability of the yuan at an equilibrium level, the statement said.
  • Authorities will implement a "negative list" management for local government special bonds, allowing the use of funds for land reserves and acquisition of unsold homes for affordable housing, Xinhua News Agency reported citing the State Council executive meeting Monday. Authorities must optimise the project review mechanism and moderately increase the autonomy of localities to improve bond efficiency, the meeting said.
  • Chinese policymakers are expected to prioritise expanding domestic demand next year, Zhang Liqun, a researcher at the State Council's Development Research Centre, told Securities Daily after analysing last week’s Central Economic Work Conference. Zhang anticipates strong government investment next year will drive up manufacturing orders leading to higher employment and consumption confidence, and ultimately promote a new sustained recovery cycle.