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MNI China Press Digest Mar 5: Housing, Wealth Mgmt., Logistics

MNI picks key stories from today's China press.
Central Bank NewsPolicy NewsPBOCAPACChinaEM Policy NewsChinaEM Central Bank NewsPeoples Bank of ChinaGlobalStoryRegion

MNI (BEIJING) - Highlights from Chinese press reports on Wednesday:

  • Housing transactions in major cities may continue to rise in March as local authorities relax policies, Yicai.com reported citing analysts. In February, the average price of new homes in 100 cities rose by 0.11% m/m, while those in first-tier cities increased 0.24%, data by China Index Academy showed. Demand for upgrades to high-end and luxury homes was a primary driver, pushing up home prices and reflecting increased confidence, the newspaper said.
  • Authorities should expand the Cross-boundary Wealth Management Connect scheme to further tap into the needs of residents in the Guangdong-Hong Kong-Macao Greater Bay Area, said Chen Zhenying, delegate of the National People’s Congress from Hong Kong. He suggested to increase the personal investment quota further, expand the product range and optimise sales procedures, which will also strengthen Hong Kong’s offshore yuan asset allocation function. (Source: 21st Century Business Herald)
  • China's logistics industry prosperity index recorded 49.3% in February, down 0.4 percentage points from January, given fewer working days due to the Spring Festival holiday, data released by China Federation of Logistics & Purchasing showed. The expectation index for business activities printed at 54.4%, indicating a substantial recovery in logistic demand in the later period, said Hu Han, deputy chief economist of CFLP. (Source: Securities Daily)
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MNI (BEIJING) - Highlights from Chinese press reports on Wednesday:

  • Housing transactions in major cities may continue to rise in March as local authorities relax policies, Yicai.com reported citing analysts. In February, the average price of new homes in 100 cities rose by 0.11% m/m, while those in first-tier cities increased 0.24%, data by China Index Academy showed. Demand for upgrades to high-end and luxury homes was a primary driver, pushing up home prices and reflecting increased confidence, the newspaper said.
  • Authorities should expand the Cross-boundary Wealth Management Connect scheme to further tap into the needs of residents in the Guangdong-Hong Kong-Macao Greater Bay Area, said Chen Zhenying, delegate of the National People’s Congress from Hong Kong. He suggested to increase the personal investment quota further, expand the product range and optimise sales procedures, which will also strengthen Hong Kong’s offshore yuan asset allocation function. (Source: 21st Century Business Herald)
  • China's logistics industry prosperity index recorded 49.3% in February, down 0.4 percentage points from January, given fewer working days due to the Spring Festival holiday, data released by China Federation of Logistics & Purchasing showed. The expectation index for business activities printed at 54.4%, indicating a substantial recovery in logistic demand in the later period, said Hu Han, deputy chief economist of CFLP. (Source: Securities Daily)