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MNI China Press Digest, June 8: Liquidity, Vaccine

     BEIJING (MNI) - The following lists highlights from Chinese press reports
on Monday:
     The PBOC is likely to inject liquidity through reverse repos this month but
is unlikely to lower any interest rates, according to a report in the Securities
Daily. The Daily's report cites Li Qilin, chief economist of Yuekai Securities,
who said the recent focus of the central bank was on rectifying the arbitrage of
funds. Liquidity pressure would normally increase in June due to mid-year
assessments, tax payments and cross-seasonal factors, the report said, adding
that the maturity of medium-term lending facility and increased bond issuance
this month would also weigh on liquidity. There will be CNY720 billion of funds
maturing in the open market this week, the newspaper added. 
     A COVID-19 vaccine could be put into emergency use as early as this fall,
according to comments from China's top respiratory expert Zhong Nanshan during a
live medical event on Saturday. According to the Weibo summary of the People's
Daily, Zhong said that it takes 60-70% of a country's population to be infected
by the virus to create natural immunity, and this could cause a death toll of
30-40 million. He said the solution is mass vaccination, and that there are six
vaccines currently undergoing clinical trials. 
--MNI Beijing Bureau; +86 (10) 8532-5998; email: wanxia.lin@marketnews.com
--MNI Sydney Bureau; +61 405322399; email: lachlan.colquhoun.ext@marketnews.com
[TOPICS: M$A$$$,M$Q$$$,MI$$$$]

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