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MNI China Press Digest March 20:Mortgages, Green Bonds, Income

MNI picks keys stories from today's China press
MNI (BEIJING)

Highlights from Chinese press reports on Thursday:

  • Suzhou city has introduced customised mortgage loans to stimulate demand by lowering down payments, interest rates and monthly repayments, Securities Daily reported. Eligible buyers can access the lowest commercial-loan interest rates, extended repayment periods, and a minimum principal repayment of CNY100 per month for the first five years, the report noted.
  • Chinese authorities plan to issue CNY6 billion of green sovereign bonds in London for the first time, the Ministry of Finance announced. Both China and the UK agreed to expand financial market infrastructure for global investors using green-bond issuance and underwriting, asset securitisation and insurance, Xinhua noted, citing the recent 11th China-UK Economic and Financial Dialogue held in Beijing.
  • China should increase residents’ disposable income, especially for rural populations and improve social security to boost consumption, said Lian Ping, chairman at the China Chief Economist Forum. Authorities need to accelerate urbanisation, given migrant’s annual consumer spending exceeds CNY10 trillion and has a average yearly growth rate above 10%, said Lian. Officials should boost credit support to drive services consumption and provide taxpayer refunds for high net worth groups to stimulate demand. (Source: Yicai.com)
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MNI (BEIJING)

Highlights from Chinese press reports on Thursday:

  • Suzhou city has introduced customised mortgage loans to stimulate demand by lowering down payments, interest rates and monthly repayments, Securities Daily reported. Eligible buyers can access the lowest commercial-loan interest rates, extended repayment periods, and a minimum principal repayment of CNY100 per month for the first five years, the report noted.
  • Chinese authorities plan to issue CNY6 billion of green sovereign bonds in London for the first time, the Ministry of Finance announced. Both China and the UK agreed to expand financial market infrastructure for global investors using green-bond issuance and underwriting, asset securitisation and insurance, Xinhua noted, citing the recent 11th China-UK Economic and Financial Dialogue held in Beijing.
  • China should increase residents’ disposable income, especially for rural populations and improve social security to boost consumption, said Lian Ping, chairman at the China Chief Economist Forum. Authorities need to accelerate urbanisation, given migrant’s annual consumer spending exceeds CNY10 trillion and has a average yearly growth rate above 10%, said Lian. Officials should boost credit support to drive services consumption and provide taxpayer refunds for high net worth groups to stimulate demand. (Source: Yicai.com)