MNI China Press Digest, Jan 24:Infrastructure, Service, Fiscal

     BEIJING (MNI) - The following lists highlights from Thursday's China press:

     "New infrastructure" including 5G, UHV, high-speed and intercity rail,

electric vehicle charging piles, big data centers, artificial intelligence and

industrial internet are expected to be the new growth drivers, triggering

investment worth more than CNY4 trillion in the coming three years, the

Securities Daily reported today, citing Guo Xiaobei of the China Mingsheng Bank

research institute. "New infrastructure" refers to infrastructure mainly in the

science and technology sector, which aims to help stabilize the growth, adjust

the economic structure and boost innovation. And 5G will be the leading area of

new infrastructure, the Daily said.

     The National Development and Reform Commission, the Ministry of Commerce

and other departments are set to unveil an action plan to promote the

high-quality development of the service industry, the Economic Information Daily

reported today, citing anonymous insiders. The new plan will stipulate a

detailed evaluation system, and mainly support artificial intelligence, health

care, aging care, education and medical care, according to the source. The

market size of the service sector will exceed CNY50 trillion by 2020, the Daily

said.

     China's fiscal revenue growth is likely to continue to fall, wrote Ming

Ming, a former PBOC advisor in an article published today, local media reported.

As manufacturing activities cool down amid increasing economic downward pressure

and the price of industrial products decline on weakening demands, this will

weigh on corporate profits and further squeeze VAT and corporation tax which are

the bedrock of fiscal income, Ming said. Tax and fee cuts aiming to reduce the

burden of small companies and residents are also expected this year, further

pressuring the coffers, Ming added.

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

--MNI London Bureau; tel: +44 203-586-2225; email: les.commons@marketnews.com

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