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BEIJING (MNI) - The following lists highlights from Chinese press reports
The PBOC may cut banks' reserve requirement ratios in January to fill a
liquidity gap given the issuance of local government bonds and greater demand
for cash before the Chinese New Year, the Securities Daily reported citing
analysts including Pan Helin, executive dean of the Institute of Digital
Economy, Zhongnan University of Economics and Law. The gap may exceed CNY3.5
trillion after accounting for the maturity of CNY600 billion of reverse repos
and CNY257.5 billion targeted medium-term lending facility, the newspaper said.
China is allowing some cites or counties under greater debt pressure to
issue local government bonds to replace some implicit debts as pilot projects in
Guizhou, Yunnan, Hunan, Gansu, Inner Mongolia and Liaoning provinces, the 21st
Century Business Herald reported citing unidentified sources. Some market
participants estimate that the scale of hidden debt is as much as CNY40
trillion, the newspaper added.
China will strive to prevent risks of large-scale unemployment by helping
businesses lower labor costs and creating more jobs, according to a document
posted on the State Council website on late Tuesday. The government will
strengthen financial support for private and small enterprises, regulate
corporate layoffs and support the development of service industries, according
to the statement.
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