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BEIJING (MNI) - The following lists highlights from Chinese press reports
The People's Bank of China (PBOC) should continue with the structural
deleveraging, mainly in SOEs, and controlling the macro leverage ratio, the
Financial News said citing Wang Jingwu, director of the Financial Stability
Bureau of the PBOC. A large inventory of hidden local government debt, rising
risks of bond defaults and the real estate sector are three areas that may fan
instability in the financial industry, Wang was cited as saying.
First-tier cities in China have moved to lower their additional VAT rate on
housing transactions by 50%, The Beijing News reported on Friday. This policy
may have little impact on the market overall, as it only reduces some smaller
taxes, not those major ones including VAT, deed tax and individual income tax in
the property market, the newspaper said citing Zhang Dawei, chief analyst at
Centraline Property Agency.
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