MNI China Press Digest July 16: Stable Rate, Mfg Inv, US IPOs

The following lists highlights from Chinese press reports on Friday:

• The People's Bank of China may keep its policy interest rates, including the rate of MLFs, stable in H2 to manage the market's inflation expectations, Yicai.com reported citing analysts. After cutting banks' required reserve ratios last week, the PBOC renewed the maturing MLFs on Thursday without changing the rate, signaling it is keeping a prudent monetary policy stance and not attempting to loosen, the newspaper said citing analysts. Still, the RRR cuts may lead to 5 bps drop in LPR to be announced by the PBOC on July 20, the newspaper cited analysts as saying.
• China's investment will continue to grow steadily in H2 with manufacturing likely to be the main driving force, the Shanghai Securities News reported citing analysts. Manufacturing investment, helped by higher corporate profits and private companies' growing confidence, may reach an 11% annualized growth, the newspaper said citing Tang Jianwei, chief researcher with Bank of Communications. Infrastructure investment may slow quarterly due to the higher comparison base from last year, still at a relatively high level of about 7%, the newspaper said citing Wang Jun, chief economist of Zhongyuan Bank.
• Several Chinese companies have suspended plans to list in the U.S., including Keep, an exercise App, Himalaya, a Chinese music/podcast host, and LinkDoc, a medical technology service provider, after the State Council released stricter scrutiny over listing Chinese shares in overseas markets, as well as draft regulations by the cybersecurity watchdog requiring reviews over data confidentiality, the 21st Century Business Herald reported. There won't likely be any new shares getting listed in H2 after 37 companies succeeded in H1, the newspaper said. There were also rumors that regulators will begin to require approvals for listings through the so-called Variable Interest Equity structure, a way for Chinese domestic companies to obtain overseas listing through registering first in another country, the newspaper said.