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MNI China Daily Summary: Monday, May 29

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MNI China Press Digest March 17: Recovery, Trade, Employment

MNI (BEIJING)
BEIJING (MNI)

MNI picks key stories from today's China press

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Highlights from Chinese press reports on Friday:

  • China's economic recovery lacks stability as the external environment is more complex than last year and confidence among firms and consumers is down, according to Lian Ping, chairman of the China Chief Economist Forum. Speaking at a recent conference, Lian said Federal Reserve interest rate hikes, the Ukraine crisis and instability in the international banking sector is adding to a difficult environment. More needs to be done to support China's real estate sector and to help employment. With more government spending this year, monetary policy should ensure sufficient liquidity to keep the cost of treasury bonds and local special bonds at a low level, he said.
  • The government is launching initiatives to boost foreign investment into the country, including a series of expos, tours and match-making events aimed at attracting overseas investors, according to the Ministry of Commerce (MOFCOM). Beijing will expand institutional openness and strive to create a market-oriented, legal, and international first-class business environment for foreign firms. Authorities are also working with Chinese exporters to address weakening export demand and increased non-payment risks, as well as supporting business trips abroad to facilitate export business, the ministry said.
  • China needs policies to support the estimated 147.39 million workers aged between 60-69 years old, which will help alleviate the pressures of ageing on society, according to Yicai. Retirees continuing to work or returning to the labour market face barriers, such as a skills gaps or discrimination. Policies are needed to provide vocational training and guidance services for elderly people who want to work. Additionally, large employers like schools, hospitals and community services, should explore flexible employment models suitable for the elderly. With average lifespans and medical care increasing, the number of elderly working after retirement will increase, the paper said.
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Highlights from Chinese press reports on Friday:

  • China's economic recovery lacks stability as the external environment is more complex than last year and confidence among firms and consumers is down, according to Lian Ping, chairman of the China Chief Economist Forum. Speaking at a recent conference, Lian said Federal Reserve interest rate hikes, the Ukraine crisis and instability in the international banking sector is adding to a difficult environment. More needs to be done to support China's real estate sector and to help employment. With more government spending this year, monetary policy should ensure sufficient liquidity to keep the cost of treasury bonds and local special bonds at a low level, he said.
  • The government is launching initiatives to boost foreign investment into the country, including a series of expos, tours and match-making events aimed at attracting overseas investors, according to the Ministry of Commerce (MOFCOM). Beijing will expand institutional openness and strive to create a market-oriented, legal, and international first-class business environment for foreign firms. Authorities are also working with Chinese exporters to address weakening export demand and increased non-payment risks, as well as supporting business trips abroad to facilitate export business, the ministry said.
  • China needs policies to support the estimated 147.39 million workers aged between 60-69 years old, which will help alleviate the pressures of ageing on society, according to Yicai. Retirees continuing to work or returning to the labour market face barriers, such as a skills gaps or discrimination. Policies are needed to provide vocational training and guidance services for elderly people who want to work. Additionally, large employers like schools, hospitals and community services, should explore flexible employment models suitable for the elderly. With average lifespans and medical care increasing, the number of elderly working after retirement will increase, the paper said.