MNI China Press Digest, June 30: Growth, Wealth Management

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

on Tuesday:

     China's economic policy focus should shift to stimulating growth while also

continuing to bail out companies, Caijing Magazine reported citing Yu Yongding,

a former member of the PBOC's monetary policy committee. Yu said that the key to

achieving these goals was the provision of sufficient funds for infrastructure

investment. In order to achieve real GDP growth of 2-2.4% real or 3-3.4% nominal

GDP growth, fixed asset investment growth must exceed double digits in the

second half of the year, with infrastructure investment growth significantly

surpassing the fixed asset investment figure, Yu said. 

     China's new Wealth Management Connect plan, allowing the cross-border

offering of wealth management products by certain Mainland, HK and Macau banks,

will further boost the opening up of China's capital account and ease RMB

conversion, the National Business Daily reported citing analysts. It also shows

that the business scope of cross-border use of RMB is on longer limited to trade

settlement and corporate investment, but also investment by individuals, the

newspaper said.

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

--MNI London Bureau; tel: +44 203-586-2225; email: les.commons@marketnews.com

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