MNI China Press Digest March 04: SMEs, Data, Capital Markets

Highlights from Chinese press reports on Monday:

• Authorities should support SMEs in “going global” to better consolidate international supply chains and improve competitiveness, said Li Lianzhu, NPC member and vice chairman of the Guangdong Federation of Industry and Commerce. Li told reporters he will recommend the Ministry of Commerce to establish an overseas expansion agency to better advise SMEs on international investment, product development, negotiations, international standards, and intellectual property rights among others. (Source: Yicai)
• Authorities should establish pilot projects for the cross-border circulation of national data and establish a whitelist of non-important data, according to Jin Li, NPC member and vice president of Southern University of Science and Technology. Jin said he will recommend improving data flows to leverage China’s first-mover advantage in digital industries, and ensure administrative and market drivers can work together to ensure an integrated data resource system.
• Authorities should strengthen top-level design to attract more medium- and long-term funds to enter the capital market, said Jia Wenqin, director of Beijing Securities Regulatory Bureau. These funds face solvency constraints and thus have a relatively conservative investment portfolio, said Jia. It is necessary to optimise the solvency indications of insurance companies and weaken the constraints on their equity investment, he said. Meanwhile, the establishment of a long-term assessment mechanism for over three years should be promoted for all types of long-term funds, Jia added, who is also a delegate of the National People's Congress, in his proposal this year. (Source: Securities Times)