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MNI China Press Digest Jan 24: Property, Stocks, Consumption

MNI picks keys stories from today's China press
Central Bank NewsPolicy NewsPBOCHomepageAPACChinaEM Policy NewsEM Central Bank NewsPeoples Bank of ChinaPolicy StoryStoryRegion

Highlights from Chinese press reports on Friday:

  • Zhengzhou city’s residential housing inventory decreased by 4.7 million square meters by end-2024, 20% lower than end-2023, as authorities have issued urban resettlement housing voucherssinceOctober 2024. As of Jan 9, a total of 23,700 housing vouchers worth CNY15 billion have been handed out, resulting in home sales of 1.3 million square meters, the newspaper said. The scheme helped to accelerate homebuyers’ entry into the market, concerned that voucher holders would buy up good properties.
  • Additional funds in the stock market from medium- and long-term institutions are expected to reach about CNY1.82 trillion this year, according to Yicai.com. The article, citing Wu Zhaoyin, chief investment officer of Soochow Futures, said insurance, mutual, and social security funds, along with dividends from listed companies will provide the increase. The boost follows authorities' plans to raise the proportion of A-share investments by medium- and long-term funds gradually. Officials can attract investment by increasing dividends and share repurchasing to improve long-term returns, as well as strengthening information disclosure and corporate governance, the newspaper said, citing analysts.
  • Several provinces have indicated strong confidence in consumption this year by setting retail sales growth targets of above 5%, said Tian Lihui, dean at Nankai University. Economically developed provinces such as Henan are targeting 6%, while Jiangsu, Zhejiang, Guangdong, and Sichuan are about 5.5%. Henan Province plans to use the government subsidy scheme to update 500,000 cars, 8 million home appliances, implement 3,000 equipment renewal projects, and increase industrial equipment investment by 10%.
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Highlights from Chinese press reports on Friday:

  • Zhengzhou city’s residential housing inventory decreased by 4.7 million square meters by end-2024, 20% lower than end-2023, as authorities have issued urban resettlement housing voucherssinceOctober 2024. As of Jan 9, a total of 23,700 housing vouchers worth CNY15 billion have been handed out, resulting in home sales of 1.3 million square meters, the newspaper said. The scheme helped to accelerate homebuyers’ entry into the market, concerned that voucher holders would buy up good properties.
  • Additional funds in the stock market from medium- and long-term institutions are expected to reach about CNY1.82 trillion this year, according to Yicai.com. The article, citing Wu Zhaoyin, chief investment officer of Soochow Futures, said insurance, mutual, and social security funds, along with dividends from listed companies will provide the increase. The boost follows authorities' plans to raise the proportion of A-share investments by medium- and long-term funds gradually. Officials can attract investment by increasing dividends and share repurchasing to improve long-term returns, as well as strengthening information disclosure and corporate governance, the newspaper said, citing analysts.
  • Several provinces have indicated strong confidence in consumption this year by setting retail sales growth targets of above 5%, said Tian Lihui, dean at Nankai University. Economically developed provinces such as Henan are targeting 6%, while Jiangsu, Zhejiang, Guangdong, and Sichuan are about 5.5%. Henan Province plans to use the government subsidy scheme to update 500,000 cars, 8 million home appliances, implement 3,000 equipment renewal projects, and increase industrial equipment investment by 10%.