MNI China Press Digest, March 10: Xi, Virus Epicentre, PBOC

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

on Wednesday:

     The situation in the coronavirus epicentre of Wuhan city and Hubei province

had improved and important milestones had been achieved through hard work,

Chinese President Xi Jinping said during his first visit to Wuhan since the

outbreak. The official Xinhua News Agency reported comments from Xi, who said

the task of epidemic control was still arduous, and prevention remained the top

priority. 

     Chinese listed companies in parts of Hubei province outside of the epidemic

epicentre of Wuhan city have gradually resumed production from Tuesday, the

Shanghai Securities Journal reported. Some companies in Wuhan have also resumed

operation on a small scale, according to the Journal. As the situation improves,

traffic checkpoints inside Hubei set to slow the epidemic earlier have largely

been lifted, the report said.

     The People's Bank of China has clamped down on illegal high-interest-rate

deposits which have tempted homebuyers to withdraw funds to pay mortgages in

advance, according to a report in Securities Times based on interviews with

depositors. Citing Zhao Yaxun, an analyst with the Citic Foundation for Reform

and Development Studies, the Times reported that the central bank wants to

alleviate pressure in the money market and lower financing costs by tightening

the regulation of high-interest deposits. 

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

--MNI Sydney Bureau; +61 405322399; email: lachlan.colquhoun.ext@marketnews.com

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