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MNI China Press Digest Feb 13: Bank Regulation, SOEs, CPI


Highlights from Chinese press reports on Monday:

  • China’s top banking regulator has extended risk classification reporting rules for commercial banks to improve risk management in the banking industry, according to 21st Century Business Herald. The paper said the rules released by the China Banking and Insurance Regulatory Commission (CBIRC) will require commercial banks to classify all financial assets according to the level of credit risk, including loans, bonds, interbank assets and receivables. Citing analysts, the new rules will bring regulation into line with international standards and promote the opening up of the financial sector. The new rules will apply to new business starting from July 7, and from December 1 for existing business.
  • State owned enterprises in 2023 will prioritise investing in projects to improve people's livelihoods and new industries, according to a recent notice from the State-owned Assets Supervision and Administration Commission. Central enterprises will focus on expanding effective investment in building a manufacturing power, securing supply chains, and improving food and energy supplies. New-era infrastructure supporting the digital economy, such as 5G and data centres, artificial intelligence, and platform enterprises will also be important, the commission said.
  • The downward effect on CPI from a fall in pork prices during the new year festival will subside slightly as pork storage increases, but more policy is needed to boost consumption, according to the Shanghai Securities News. In January’s CPI reading, pork prices fell 10.8% month-on-month helping to keep inflation at a moderate level. The paper said the Spring Festival’s only had a modest impact on CPI figures compared to historical standards.
MNI Beijing Bureau |
MNI Beijing Bureau |

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