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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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Free AccessMNI China Press Digest, March 26: Fee Cuts, Premier Li, Yuan
BEIJING (MNI) - The following lists highlights from China press reports on
Tuesday:
A planned reduction in the social security rate paid by corporates is
expected to lower their contributions by CNY800 billion across the sector, the
Securities Daily reported today. The newspaper cited Zhang Yiqun, deputy
director of China Fiscal Budget and Performance Committee, who said the
reduction in the social security rate for corporates to 16% from the current 20%
on May 1 would greatly alleviate the labour costs of enterprises and help to
boost employment.
China will respond to downward economic pressure through cuts in taxes and
fees rather than expanding the fiscal deficit and loosening monetary policy,
according to reports quoting Premier Li Keqiang. China Securities Daily reported
comments from Li, who said China would open up and stimulate the domestic market
with a view to maintaining growth in a reasonable and healthy range.
Limited weakness in the US dollar combined with slower economic growth in
China would prevent an appreciation in the yuan, the China Securities Journal
reported today. The Journal said was unlikely that the yuan would rise or fall
unilaterally this year, saying the currency would remain stable.
--MNI Beijing Bureau; +86 (10) 8532-5998; email: wanxia.lin@marketnews.com
--MNI Sydney Bureau; +61 405322399; email: lachlan.colquhoun.ext@marketnews.com
[TOPICS: M$A$$$,M$Q$$$,MI$$$$]
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.