Free Trial

MNI China Press Digest, Feb 27: GDP, Yuan, NPLs

MNI (London)
     BEIJING (MNI) - The following lists highlights from Wednesday's China
press:
     China's economy is expected to grow 6.4% in 2019 and 6.2%-6.5% in 2020, the
Economic Information Daily said citing a forecast by economists at Xiamen
University. A sharp decline is unlikely as tax and fee cuts underpin investment
and overall growth, the daily said. Fixed-asset investment growth may be 1.23 pp
higher in 2019 at 7.25%, before slowing to 6.58% by 2020, while retail sales
this year may slow to 8.92% from 9.05%, the newspaper said citing the
economists.
     The depreciation pressure on the Chinese yuan has eased due to the
weakening dollar index and China's strong balance of payments, Guan Tao, a
senior fellow at the China Finance 40 Forum, wrote in a report. A positive
development in Sino-U.S. trade negotiations and lower expectations for further
rate hikes by the Federal Reserve helped boost investors' optimism for the yuan,
Guan said.
     Over 70% Chinese bankers contacted in a survey by the China Banking
Association expected non-performing loans ratio (NPLs) to stay below 2.0% in the
coming three years, the China Securities Journal reported today. About 70%
respondents are concerned about growths in the coming years, expecting revenue
and profit growth rates to be less than 10%, the newspaper said. The banks are
more cautious about real estate lending given many cities implemented curbs on
property purchases and lending, the journal 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
[TOPICS: M$A$$$,M$Q$$$,MBQ$$$]
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.