MNI China Press Digest, June 28: Mon Pol,G20,Tax,Freight,LGFv

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

on Friday:

     CHINA PRESS: China's monetary policy should serve the goal of the country's

economic development to the highest level, the Economic Information Daily said

in a front page commentary on Friday. Paraphrasing the PBOC's Q2 monetary policy

committee meeting held this week, the newspaper said the Bank would deepen

reforms around interest rate marketization and may fine tune the policy in

response to external uncertainties and any downward domestic pressure.

     CHINA PRESS: China and Japan will deepen their economic co-operation across

a number of diverse areas after a meeting between the leaders of the two

countries at the G20 summit in Osaka. China's President Xi and Japan's Prime

Minister Shinzo Abe have committed to co-operation in technology innovation,

intellectual property protection, economic investment and financing, according

to a Friday report in the official People's Daily newspaper. The report said the

two sides would also accelerate the negotiation of a China-Japan-ROK Free Trade

Agreement with the goal of completing the deal this year.

     CHINA PRESS: China has cut fees and taxes by CNY893 billion in the first

five months of 2019, according to a Friday report in the Securities Daily.

Quoting Zhang Yiqun, the deputy director of the China Budget and Budget

Performance Committee, the report said the cuts amounted to 44% of the

Government target of CNY2 trillion. Zhang said China would also continue to

reform state-owned enterprises as a next step in economic reform.

     CHINA PRESS: China's freight volume has maintained rapid growth since the

beginning of this year and is up 6.0% y/y for the first five months of 2019,

People's Daily has reported. Wu Chungeng, spokesperson of the Ministry of

Transport and director of the Policy Research Office, said other major

indicators had also remained strong and the transportation economy was operating

smoothly.

     CHINA PRESS: China's Finance Minister was warned local governments against

illegal debt issuance in an environment where cuts in taxes and fees have had a

greater impact on fiscal revenues, reports China Business News. Speaking at a

conference where he delivered the 2018 Final Accounts Report, Finance Minister

Liu Kun said it was necessary to strengthen the management of local government

bond issuance and rationally arrange the rhythm of issuance.

--MNI Beijing Bureau; tel: +86 (10) 8532-5998; email: flora.guo@marketnews.com

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

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