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MNI China Press Digest Feb 7: Tariffs, Consumption, Property

MNI picks keys stories from today's China press
Central Bank NewsPolicy NewsPBOCHomepageAPACChinaEM Policy NewsChinaEM Central Bank NewsPeoples Bank of ChinaPolicy StoryStoryRegion
MNI (BEIJING)

Highlights from Chinese press reports on Friday:

  • Certain Chinese firms can export goods to the U.S. via South-East Asian factories to avoid tariffs, Yicai.com has reported, citing interviews with traders. Other firms said a 10% additional charge did not harm competitiveness, but trade tensions and uncertainty caused U.S. customers to hold back orders. One Chinese firm said a 25% charge on Mexico would impact sales, given the majority of their U.S. exports went through Mexico. (Yicai)
  • China’s consumer market is expected to grow steadily in Q1, as the government expands its trade-in policy, according to He Yongqian, spokesperson at the Ministry of Commerce. Speaking to reporters, He highlighted household appliance and communication equipment sales increased 10% y/y during the Spring Festival, while catering enterprises increased 6.2%. The total cost of domestic travel during the holiday reached CNY677 billion, up 7.0% y/y, with the box office taking in CNY9.5 billion, a record high, He added. (Source: Securities Daily)
  • China’s property market shows signs of stabilising, with authorities expected to increase fiscal and financial support for the sector this year, according to Zhao Xiuchi, dean of the Real-Estate Research Institute at the Capital University of Economics and Business. Urban village transformation as well as the revitalisation of commercial housing will further balance the supply and demand relationship this year, Zhao added. Chen Wenjing, director of policy research at the China Index Research Institute, said authorities had room to reduce mortgage interest rates and transaction taxes in some places during 2025.
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MNI (BEIJING)

Highlights from Chinese press reports on Friday:

  • Certain Chinese firms can export goods to the U.S. via South-East Asian factories to avoid tariffs, Yicai.com has reported, citing interviews with traders. Other firms said a 10% additional charge did not harm competitiveness, but trade tensions and uncertainty caused U.S. customers to hold back orders. One Chinese firm said a 25% charge on Mexico would impact sales, given the majority of their U.S. exports went through Mexico. (Yicai)
  • China’s consumer market is expected to grow steadily in Q1, as the government expands its trade-in policy, according to He Yongqian, spokesperson at the Ministry of Commerce. Speaking to reporters, He highlighted household appliance and communication equipment sales increased 10% y/y during the Spring Festival, while catering enterprises increased 6.2%. The total cost of domestic travel during the holiday reached CNY677 billion, up 7.0% y/y, with the box office taking in CNY9.5 billion, a record high, He added. (Source: Securities Daily)
  • China’s property market shows signs of stabilising, with authorities expected to increase fiscal and financial support for the sector this year, according to Zhao Xiuchi, dean of the Real-Estate Research Institute at the Capital University of Economics and Business. Urban village transformation as well as the revitalisation of commercial housing will further balance the supply and demand relationship this year, Zhao added. Chen Wenjing, director of policy research at the China Index Research Institute, said authorities had room to reduce mortgage interest rates and transaction taxes in some places during 2025.