MNI China Press Digest, March 18: Opening Up, NDRC, Tax Cuts

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

Monday:

     A further opening up of the financial sector to foreign investors is under

way, including banking, insurance and the bond market, with further expansion to

be trailed in key areas such as the Guangdong-Hong Kong-Macao Greater Bay Area,

the Economic Information Daily said in a front-page op-ed today. It is worth

noting that capital inflows accelerated recently, so it is also important to

prevent the risk of cross-border capital flows while promoting the opening, the

paper warned.

     The National Development and Reform Commission, a leading policy planning

body, will formulate and carry out plans for pushing high-quality infrastructure

development this year, Economic Information Daily reported today.

     Listed companies' earnings could increase between 3 and 9% due to the

government's CNY2 trillion of tax and fee cuts this year, China International

Capital Corporation, a leading investment bank, said. Upstream and manufacturing

industries such as coal, auto, real estate and medicine will benefit the most

from the cuts, the report said. Food and beverage, health care, home appliances,

retail, catering and tourism will also benefit from improved corporate profits

and increased disposable income, other than the direct cuts, the report added.

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

--MNI London Bureau; tel: +44 203-586-2225; email: les.commons@marketnews.com

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