Free Trial

Cheaper On Friday, CPI In Focus


Highlights This Week – RBA Lowe Appearances, Jobs Data

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

MNI China Press Digest, Jan 16:Liquidity,Infrastructure, Bonds

     BEIJING (MNI) - The following lists highlights from Chinese press reports
on Thursday:
     The PBOC is expected to inject around CNY400 billion in additional
liquidity to meet demand during the Chinese New Year period, according to a
report in the Shanghai Securities News. The newspaper cited Yang Weixiao, chief
fixed income analyst at BOC International, who said many market participants
believe that the release of CNY300 billion liquidity via medium-term lending
facility (MLF) yesterday partially meets this need, but keeping the MLF interest
rate unchanged failed market expectations. 
     China's infrastructure investment should increase by at least 11% y/y to
drive short term economic growth, and increase by 7.7% in the medium to
long-term to match GDP growth, the Securities Times reported. The Times cited
Yan Kun, Secretary of the Party Committee and a Researcher at the National
Academy of Economic Strategy who said he was concerned that fund raising for
infrastructure projects would be constrained by the debt risk faced by local
government financing vehicles and declining revenues from land purchases. 
     China's issuance of local government bonds in 2020 will exceed CNY5
trillion and may even hit a record CNY6 trillion, the China Business News
reports. Citing Ma Liya, senior analyst at the credit-rating agency Dongfang
Jingcheng the News report said new bonds will reach CNY4.35 trillion, with
refinancing accounting for close to CNY2 trillion. The report said the issuance
was driven by the need to stabilise economic growth. 
--MNI Beijing Bureau; +86 (10) 8532-5998; email:
--MNI Sydney Bureau; +61 405322399; email:
[TOPICS: M$A$$$,M$Q$$$,MI$$$$]

To read the full story

Why Subscribe to

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.