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MNI China Press Digest Feb 21: Consumption, Financing, Sino-EU

MNI picks key stories from today's China press.
Central Bank NewsPolicy NewsPBOCAPACChinaEM Policy NewsChinaEM Central Bank NewsPeoples Bank of ChinaGlobalStoryRegion

MNI (BEIJING) - Highlights from Chinese press reports on Friday:

  • China must promote service consumption by improving the supply in education, medical care, culture, sports, tourism, elderly care and housekeeping, said Premier Li Qiang at a State Council meeting Thursday. It is also necessary to quicken the promotion of artificial intelligence technology and boost spending on AI terminal products, he added. Li emphasised consumption should be placed in a more prominent position to help expand domestic demand and drive economic growth, which is also a major measure for economic transformation in the medium and long term. (Source: Xinhua News Agency)
  • The People’s Bank of China will further smooth the financing channels of stocks, bonds and loans to address the difficulty and high cost of private enterprises' financing, according to a meeting chaired by PBOC Governor Pan Gongsheng Thursday. The central bank will support private enterprises to issue science and technology bonds, green bonds, asset-backed securities and other financing tools, while improving the credit enhancement system for private and small enterprises. (Source: Shanghai Securities News)
  • China is ready to work with the EU on implementing the recent consensus reached between top leaders and expand mutual opening-up, cooperation in green industries including electric vehicles and to handle economic and trade frictions properly, Minister of Commerce Spokesperson He Yadong said. Regarding the EU's additional tariffs on Chinese electric vehicles, He said China has done its best to promote dialogue and consultation and hoped that Brussells would listen to the concerns of industrial leaders. (Source: Yicai)
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MNI (BEIJING) - Highlights from Chinese press reports on Friday:

  • China must promote service consumption by improving the supply in education, medical care, culture, sports, tourism, elderly care and housekeeping, said Premier Li Qiang at a State Council meeting Thursday. It is also necessary to quicken the promotion of artificial intelligence technology and boost spending on AI terminal products, he added. Li emphasised consumption should be placed in a more prominent position to help expand domestic demand and drive economic growth, which is also a major measure for economic transformation in the medium and long term. (Source: Xinhua News Agency)
  • The People’s Bank of China will further smooth the financing channels of stocks, bonds and loans to address the difficulty and high cost of private enterprises' financing, according to a meeting chaired by PBOC Governor Pan Gongsheng Thursday. The central bank will support private enterprises to issue science and technology bonds, green bonds, asset-backed securities and other financing tools, while improving the credit enhancement system for private and small enterprises. (Source: Shanghai Securities News)
  • China is ready to work with the EU on implementing the recent consensus reached between top leaders and expand mutual opening-up, cooperation in green industries including electric vehicles and to handle economic and trade frictions properly, Minister of Commerce Spokesperson He Yadong said. Regarding the EU's additional tariffs on Chinese electric vehicles, He said China has done its best to promote dialogue and consultation and hoped that Brussells would listen to the concerns of industrial leaders. (Source: Yicai)