MNI China Press Digest, Feb 14: Fiscal, Employment, Bonds

     BEIJING (MNI) - The following lists highlights from Chinese press reports

on Friday: 

     The Chinese government should increase the deficit to GDP ratio and

consider selling Special China Government Bonds to support the increased

spending needed to alleviate the impact of the epidemic, according China

Securities Journal. In a commentary published on the front page, the Journal

said policy banks in China should also step up the issuance of policy financial

bonds which function as quasi-fiscal tools for raising money.

     China will prioritize employment and strengthen the monitoring of the job

markets, according to a statement citing Vice Premier Hu Chunhua. In the

statement published on the Government website, Hu said China would focus on

addressing the employment of college graduates and migrant workers, and strive

to complete the annual employment target.

     China could approve more than CNY3 trillion in new local government special

purpose bonds in 2020, higher than the CNY2.15 trillion approved last year,

according to a report in the Securities Times. The Times cited Zhu Jianfang,

chief economist with Citic Securities, who said that more of the new bonds will

be used on infrastructure projects to offset the economic impact of the epidemic

outbreak.

--MNI Beijing Bureau; +86 (10) 8532-5998; email: wanxia.lin@marketnews.com

--MNI Sydney Bureau; +61 405322399; email: lachlan.colquhoun.ext@marketnews.com

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