MNI: China Press Digest, March 21: Yuan, Macro Controls; IPOs

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

Wednesday:

     The yuan against the dollar is expected to fluctuate in a small range,

according to a China Securities Journal report, which cited analysts and market

participants. Market participants tend to observe future movement of the market

in the lead-up to the U.S. Fed's interest rate decision, and are currently

cautious about making transactions. The FX market is still waiting to see if the

Fed's attitude is hawkish in the FOMC meeting. The monetary policy direction of

European Central Bank and concerns of a global trade war are also affecting

market sentiment in China,the Journal cited market insiders as saying.

     The continuity and stability of macro-policies need to be maintained, while

making slight alterations according to specific situations, said Xiao Yanshun,

who helped draft the government report on China's economic goals for this year,

according to 21st Century Business Herald. Making just minor changes to the

fiscal and monetary policies could help stabilise market predictions, Xiao said.

China can only focus on further reform, the restructuring of its economy, and

seeking greater momentum when economic growth is at a reasonable range, and when

employment growth and income growth are improved, Xiao noted.

     Large property developers in China are increasingly seeking IPOs for

financing due to fierce competition in the segment, Economic Information Daily

reported. Consolidation is heating up among developers, which could see another

high point, the Daily said. Not many of the Top 100 property companies are still

private.   

***Comment: As the Chinese government maintains high-level controls on the

property market, and restricts both onshore and offshore financing of

developers, more companies are expected to go public for quicker financing.

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

--MNI Beijing Bureau; +86-10-8532-5998; email: beijing@marketnews.com

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