MNI China Press Digest, Feb 15: Private Firm, Economy, Housing

     BEIJING (MNI) - The following lists highlights from Friday's China press:

     China's financial services industry must fully support private enterprises

increase their direct financing, guidance published by the State Council late

Thursday said. The authorities must accelerate the progress of IPOs and

refinancing reviews for private companies, support non-listed private firms to

issue private convertible bonds, and encourage financial institutions to

increase investment in private corporate bonds and expand credit supply to

private and small firms, the guidance said.

     China's economy is expected to achieve a "soft landing" in two to three

years instead of falling off a cliff, China Securities Journal reported today,

citing Hua Changchun, chief economist at Guotai Junan Securities. Hua thinks

improved productivity driven by the supply side reform, the rise of high-end

manufacturing industry, the growing demand of big data and artificial

intelligence, as well as the formation of city clusters will support the

transformation and long-term development of the Chinese economy, the paper said.

     China's luxury housing market is cooling, as the transaction of luxury

homes in tier-one cities totalled just 6,269 units last year, less than 30% of

that in 2016, 21st Century Business Herald reported, citing data released by

CRIC. Investors have a lower appetite after a few years of overinvestment, with

the economic downturn and tighter credit now damping demand, the newspaper said.

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

--MNI London Bureau; tel: +44 203-586-2225; email: les.commons@marketnews.com

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