MNI China Press Digest July 30: CSRC, Trade, Yuan

Highlights from Chinese press reports on Tuesday:

• The China Securities Regulatory Commission will guide listed companies to increase dividends and buybacks, and improve corporate governance while preventing risks in key areas such as private equity, trading venues, bond defaults, and industry institutions, the 21st Century Business Herald reported following a recent CSRC work meeting. The authority will maintain smooth market operations and improve expectation management, the news outlet noted.
• China plans to accelerate infrastructure connectivity to enhance global supply chain resilience and stability, according to Zhao Ping, president at the China Council for the Promotion of International Trade Research Institute. Beijing will maintain the multilateral trading system with the World Trade Organization at its core and expand unilateral opening to developing countries. Officials will put forward a global supply chain cooperation initiative and promote the liberalization of trade and investment, Zhao added. (Source: 21st Century Business Herald)
• Central banks' recent increase in yuan allocation will further stimulate China's currency internationalisation, according to Wang Youxin, a senior researcher at the China Banking Research Institute. The RMB Internationalisation Index reached 6.27 in 2023, up 22.9% year-on-year, according to a recent Renmin University report. Yuan internationalisation will increase foreign capital allocation in China, helping to improve market efficiency and openness, Wang noted.