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     BEIJING (MNI) - The following lists highlights from the Chinese press on
     China's monetary policy next year should not be loosened to the extent that
it encourages speculation in real estate again, nor should it result in
excessive liquidity in the banking system while failing to support the economy,
the 21st Century Business Herald reported today citing Sheng Songcheng, a former
official at the People's Bank of China. Regulators may consider lowering the
reserve requirement ratio (RRR) rather than cutting broad interest rates if
necessary, the newspaper said citing Sheng.
     China's fiscal policy next year will aim to be more proactive efficient
according to the tone set by the Central Economic Work Conference last week,
Xinhua News Agency reported today citing interviews with economists. The
government will keep a certain size of deficit scale, put forward larger tax and
fee cuts, increase the issuance of special bonds, and expand expenditures at
targeted areas such as improving people's livelihood, Xinhua said.
     China's State Council pledged to further support the development of private
companies and SMEs, treat them equally with SOEs in terms of bidding for land
use, remove investment barriers in resources and transportation, further cut
taxes and fees and improve financing services including targeted RRR cuts for
them, Xinhua News Agency reported on Monday night following a cabinet meeting
chaired by Premier Li Keqiang.
--MNI Beijing Bureau; +86 (10) 8532-5998; email:
--MNI Beijing Bureau; +86 10 8532 5998; email:
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