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MNI China Press Digest Jan 16:FDI, Shanghai, Local GDP Targets

MNI picks keys stories from today's China press
Policy NewsHomepageAPACChinaPolicy StoryStoryRegion

Highlights from Chinese press reports on Thursday:

  • China will attract foreign investment this year through opening the service sector and expanding promotions in the telecommunications, medical care and education sectors, according to Li Yongyan, deputy representative at the Ministry of Commerce for International Trade Negotiations. The Ministry will reduce the negative list and increase institutional opening, Li said, adding that efforts to resolve foreign-invested enterprises' issues in qualifications, standard settings, and government procurement will be made. (Source: 21st Century Herald)
  • Shanghai must stabilise growth this year through expanding domestic demand and stimulating consumption, according to Gong Zheng, deputy secretary of the Shanghai Municipal Party Committee and mayor of Shanghai. Yicai news outlet noted Shanghai's per capita disposable income last year was CNY88,000, an increase of about 4.1% y/y, while the city’s GDP was estimated to grow by about 5%.
  • More than 10 provinces have set annual GDP growth targets of around 5% this year, Yicai.com reported. Beijing, Shanghai and Guangdong are targeting about 5%, with Zhejiang province at around 5.5%. Inner Mongolia and Hainan province are aiming for 6% or above. Shanghai, as an international consumer centre, will organise consumption activities and develop new business models combining commerce, travel, culture, sports and exhibitions, the newspaper said.
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Highlights from Chinese press reports on Thursday:

  • China will attract foreign investment this year through opening the service sector and expanding promotions in the telecommunications, medical care and education sectors, according to Li Yongyan, deputy representative at the Ministry of Commerce for International Trade Negotiations. The Ministry will reduce the negative list and increase institutional opening, Li said, adding that efforts to resolve foreign-invested enterprises' issues in qualifications, standard settings, and government procurement will be made. (Source: 21st Century Herald)
  • Shanghai must stabilise growth this year through expanding domestic demand and stimulating consumption, according to Gong Zheng, deputy secretary of the Shanghai Municipal Party Committee and mayor of Shanghai. Yicai news outlet noted Shanghai's per capita disposable income last year was CNY88,000, an increase of about 4.1% y/y, while the city’s GDP was estimated to grow by about 5%.
  • More than 10 provinces have set annual GDP growth targets of around 5% this year, Yicai.com reported. Beijing, Shanghai and Guangdong are targeting about 5%, with Zhejiang province at around 5.5%. Inner Mongolia and Hainan province are aiming for 6% or above. Shanghai, as an international consumer centre, will organise consumption activities and develop new business models combining commerce, travel, culture, sports and exhibitions, the newspaper said.