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MNI China Press Digest Jan 20:GDP Target, Property, U.S. China

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

Highlights from Chinese press reports on Monday:

  • Provincial economic targets of around 5% or above in 2025 demonstrate positive macro trends and intensified support policies, according to Zhang Yiqun, deputy director at the Chinese Society of Finance. Zhang said building a unified domestic market and enhancing confidence will be the primary task this year, with a focus on promoting consumption and investment. Mingming, chief economist at CITIC Securities, said China has shifted to high-quality development and needs to incorporate consumption alongside investment and exports as a growth driver.
  • China’s property market has shown recent signs of stabilisation, with home prices in first-tier cities trending upwards for three consecutive months and transaction volume remaining at a high level, Securities Daily reported, citing Zhang Bo, director at 58 Anjuke Real Estate Research Institute. Prices of new homes in tier-one cities rose by 0.2% m/m in December, compared to November’s 0.0%. Existing housing was 0.0%, up from the previous 0.1% decline. Major cities' real-estate markets are expected to boom after the Chinese New Year if authorities keep offering policy support, the newspaper said, citing Zhang.
  • U.S. president-elect Donald Trump signalled a willingness to cooperate with China, while Beijing should strive for the best and prepare for the worst, said an article by the state-run Xinhua News Agency via its social media account on WeChat, following the recent Xi-Trump call. The article noted that Trump’s promise to save TikTok was an important litmus test and the recent engagement was positive.
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Highlights from Chinese press reports on Monday:

  • Provincial economic targets of around 5% or above in 2025 demonstrate positive macro trends and intensified support policies, according to Zhang Yiqun, deputy director at the Chinese Society of Finance. Zhang said building a unified domestic market and enhancing confidence will be the primary task this year, with a focus on promoting consumption and investment. Mingming, chief economist at CITIC Securities, said China has shifted to high-quality development and needs to incorporate consumption alongside investment and exports as a growth driver.
  • China’s property market has shown recent signs of stabilisation, with home prices in first-tier cities trending upwards for three consecutive months and transaction volume remaining at a high level, Securities Daily reported, citing Zhang Bo, director at 58 Anjuke Real Estate Research Institute. Prices of new homes in tier-one cities rose by 0.2% m/m in December, compared to November’s 0.0%. Existing housing was 0.0%, up from the previous 0.1% decline. Major cities' real-estate markets are expected to boom after the Chinese New Year if authorities keep offering policy support, the newspaper said, citing Zhang.
  • U.S. president-elect Donald Trump signalled a willingness to cooperate with China, while Beijing should strive for the best and prepare for the worst, said an article by the state-run Xinhua News Agency via its social media account on WeChat, following the recent Xi-Trump call. The article noted that Trump’s promise to save TikTok was an important litmus test and the recent engagement was positive.