MNI China Daily Summary: Friday, April 26

MNI BRIEF: China, US Should Strengthen Dialogue, Cooperation

MNI BRIEF: SNB Framework Reform 'Playing With Fire' - Steiner

MNI: PBOC Conducts CNY2 Bln Via OMO Fri; Liquidity Unchanged

CHINA PBOC INJECTS CNY2 BILLION VIA 7-DAY REVERSE REPOS FRI

MNI: PBOC Sets Yuan Parity Lower At 7.1056 Fri; -4.56% Y/Y

MNI: BAKER HUGHES US RIG COUNT 613; OIL RIGS 506; GAS RIGS 105

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT FINAL APR INDEX 77.2

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

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MNI China Press Digest Mar 15: Foreign Debt, PBOC, Housing

MNI (Singapore)
MNI (Beijing)

MNI picks keys stories from today's China press

Central Bank NewsPolicy NewsPBOCHomepageBond Market NewsAPACChinaEM Policy NewsEM Policy StoryEM Central Bank NewsPeoples Bank of ChinaPolicy StoryStoryRegion
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Highlights from Chinese press reports on Friday:

  • Officials will maintain prudent monetary policy that is flexible, appropriate, precise and effective, according to the People’s Bank of China. At a recent meeting, policymakers said the PBOC would promote the scale of social financing and money supply to match the expected goals of economic growth and price levels, and support local governments to resolve debt risk. China will promote high-level financial opening and the internationalisation of the RMB in a prudent manner. (Source: Securities Daily)
  • The National Development and Reform Commission will actively support high-quality enterprises with remarkable industry status, good credit and that lead the development of the real economy to borrow foreign debt, Xinhua Finance reported citing a document drafted by NDRC which is now open for public comments. Enterprises with investment grade (BBB- and above) in international credit rating or AAA in domestic credit rating, and no defaults in the last three years, can enjoy the preferential policy. The NDRC will appropriately simplify requirements and speed up the process for these companies.
  • Hangzhou, a major second-tier city in China, has fully eased the purchase restrictions on established houses and lowered tax costs during the transaction process, Securities Daily reported. The authority aims to drive new home sales by activating the second-hand housing market. Yan Yuejin, director at the E-house China Research and Development Institution, said full relaxation of limits on second-hand homes should precede those on new homes, as second-hand housing accounts for a large part of household assets.
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Highlights from Chinese press reports on Friday:

  • Officials will maintain prudent monetary policy that is flexible, appropriate, precise and effective, according to the People’s Bank of China. At a recent meeting, policymakers said the PBOC would promote the scale of social financing and money supply to match the expected goals of economic growth and price levels, and support local governments to resolve debt risk. China will promote high-level financial opening and the internationalisation of the RMB in a prudent manner. (Source: Securities Daily)
  • The National Development and Reform Commission will actively support high-quality enterprises with remarkable industry status, good credit and that lead the development of the real economy to borrow foreign debt, Xinhua Finance reported citing a document drafted by NDRC which is now open for public comments. Enterprises with investment grade (BBB- and above) in international credit rating or AAA in domestic credit rating, and no defaults in the last three years, can enjoy the preferential policy. The NDRC will appropriately simplify requirements and speed up the process for these companies.
  • Hangzhou, a major second-tier city in China, has fully eased the purchase restrictions on established houses and lowered tax costs during the transaction process, Securities Daily reported. The authority aims to drive new home sales by activating the second-hand housing market. Yan Yuejin, director at the E-house China Research and Development Institution, said full relaxation of limits on second-hand homes should precede those on new homes, as second-hand housing accounts for a large part of household assets.