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MNI China Press Digest August 3: China-U.S.- Taiwan, RRR Cut

MNI (Singapore)

MNI picks keys stories from today's China press

True

The following lists highlights from Chinese press reports on Wednesday:

  • U.S. House of Representatives Speaker Nancy Pelosi's visit to Taiwan seriously infringes upon China's sovereignty and territorial integrity, and has a severe impact on the political foundation of China-U.S. relations, Xinhua News Agency reported citing a statement by the Ministry of Foreign Affairs late on Tuesday after Pelosi arrived in Taiwan and vowed America’s commitment to support Taiwan’s democracy. The ministry said China will take all necessary measures. The People's Liberation Army Eastern Theater Command launched joint military operations around Taiwan island starting on Tuesday night as a solemn deterrent against the U.S. escalation of tension on the Taiwan issue, Xinhua reported.
  • China will suspend the import of some Taiwanese fruits and seafood, including citrus, chilled white hairtail and frozen horse mackerel starting on Wednesday, the People’s Daily reported citing a statement by China Customs released following U.S. House of Representatives Speaker Nancy Pelosi's visit to Taiwan on Tuesday. The Ministry of Commerce also said in a statement that China will suspend the export of natural sand to Taiwan from Wednesday, the newspaper reported.
  • The People’s Bank of China should cut the reserve requirement ratio or interest rates in a timely manner to boost aggregate demand, while promoting steady growth of credit, according to a report by the China Finance 40 Forum. China should also supplement local government resources quickly to ensure the intensity of their fiscal spending, the report said. It should also provide broader relief plans for real estate developers facing liquidity crunches, such as delaying the repayment of domestic debts, and actively promoting debt restructuring with the help of local governments, according to the report
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The following lists highlights from Chinese press reports on Wednesday:

  • U.S. House of Representatives Speaker Nancy Pelosi's visit to Taiwan seriously infringes upon China's sovereignty and territorial integrity, and has a severe impact on the political foundation of China-U.S. relations, Xinhua News Agency reported citing a statement by the Ministry of Foreign Affairs late on Tuesday after Pelosi arrived in Taiwan and vowed America’s commitment to support Taiwan’s democracy. The ministry said China will take all necessary measures. The People's Liberation Army Eastern Theater Command launched joint military operations around Taiwan island starting on Tuesday night as a solemn deterrent against the U.S. escalation of tension on the Taiwan issue, Xinhua reported.
  • China will suspend the import of some Taiwanese fruits and seafood, including citrus, chilled white hairtail and frozen horse mackerel starting on Wednesday, the People’s Daily reported citing a statement by China Customs released following U.S. House of Representatives Speaker Nancy Pelosi's visit to Taiwan on Tuesday. The Ministry of Commerce also said in a statement that China will suspend the export of natural sand to Taiwan from Wednesday, the newspaper reported.
  • The People’s Bank of China should cut the reserve requirement ratio or interest rates in a timely manner to boost aggregate demand, while promoting steady growth of credit, according to a report by the China Finance 40 Forum. China should also supplement local government resources quickly to ensure the intensity of their fiscal spending, the report said. It should also provide broader relief plans for real estate developers facing liquidity crunches, such as delaying the repayment of domestic debts, and actively promoting debt restructuring with the help of local governments, according to the report