MNI China Press Digest, Jan 7:Trade Deal, Non-Performing Asset

     BEIJING (MNI) - The following lists highlights from Chinese press reports

on Tuesday:

     China and the U.S. shouldn't rush to sign the phase one trade deal as some

details were yet to be finalised, according to an editorial in the Global Times

on Monday. The U.S. has unilaterally disclosed information on Chinese purchases

of U.S. products as well as the date and location of the deal signing, but these

have not been confirmed by Chinese officials, the editorial said. Both sides

should treat the final process seriously and focus on finalizing the agreement

and committing to its implementation, Global Times said.

     China will not change its agricultural import quotas to accommodate any

increased purchases from the U.S., according to a senior government official.

The comments were made by Han Jun, the Vice Minister of Agriculture and Rural

Affairs, and reported by media outlet Caixin. China is allocating 7.2 million

tons of imported corn in 2020 and only 60% of that can be imported by

state-owned enterprises (SOE), according to Caixin. At the same time 90% of the

wheat import quota, or 9.64 million tons for 2020, is allocated for SOEs.

     Many foreign financial institutions in the fields of non-performing asset

disposal, wealth management and factoring are eager to enter the Chinese market

as soon as possible, according to a report in the 21st Century Business Herald.

At present, most domestic non-performing asset disposal agencies cannot build a

team of hundreds of people to increase the asset value through industrial

restructuring and capital operations like their overseas counterparts, the

newspaper said citing an unnamed industry player. Foreign agencies are

enthusiastic about the potential of China's large market in the disposal of

non-performing assets, the source said.

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

--MNI Sydney Bureau; +61 405322399; email: lachlan.colquhoun.ext@marketnews.com

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