MNI China Press Digest, Jan 14: Banks IPOs, Auto, Trusts

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

on Tuesday:

     Sixteen Chinese banks have been screened by the regulator for IPOs,

according to Securities Daily. Eleven of the sixteen banks are rural commercial

banks and the rest are city commercial banks, the Daily reported. The list of

banks was published as an "IPO queue" on the regulator's website. Currently,

eight rural commercial banks and eleven commercial banks have been listed on

China's sharemarkets.

     Sales of electric vehicles in China declined 4% y/y in 2019 in the first

negative growth in ten years, the 21st Century Business Herald reports. The

Herald's report says the fall was largely due to the sharp decline in subsidies

given to EV manufacturers in mid-2019, adding that the subsidies are planned to

end this year. Wan Gang, Vice Chairman of the Chinese People's Political

Consultative Conference, was quoted as advising against any intermediate

subsidies in 2020 so market expectations could remain stable.

     Real estate investment trusts in China raised CNY141 billion in Q4 of 2019,

down 26% from the previous quarter, according to Securities Daily. The trusts

will provide fewer real estate development loans in 2020 and some trusts may

miss payments this year, the Daily reported citing Yu Zhi, an analyst with

Usetrust.

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

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

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