Free Trial

MNI China Press Digest May 22: Economy, Unified Market, FX

(MNI) Beijing

Highlights from Chinese press reports on Monday:

  • China’s economy faces insufficient domestic demand and an uncertain external environment according to Ding Zhijie, director of FX research at the State Administration of Foreign Exchange. Speaking at a recent forum, Ding said the economy would benefit from supply-side structural reforms to promote high-quality economic development and enact high-level opening up to develop trade and foreign investment. Ding said despite difficulties the economy had shown resilience through maintaining independent monetary policy and stable balance of payments. (Source: 21st Century Herald)
  • China should make efforts to build a unified national market to release economic potential, according to the State Council. In a meeting chaired by Premier Li Qiang, council members agreed on enhancing the market economy through protecting IP rights, opening up market access and allowing fair competition. China will construct systems and mechanisms to boost the unified national market. The State Council also issued draft reforms to the basic pension system, proposing to expand and improve it to cover all elderly people by 2025. (Source: Yicai)
  • Members of China’s FX self-regulatory mechanism should maintain basic stability in the FX market, according to the China Foreign Exchange Market Steering Committee. At a recent meeting the CFXC said the FX rate had displayed two-way fluctuations recently, but China’s macroeconomic situation and balance of payments remained stable and residents have stable expectations for currency moves. The People's Bank of China and the State Administration of Foreign Exchange should also strengthen guidance on FX expectations, correct unilateral behaviour and curb speculation. (Source: Securities Daily)
MNI Beijing Bureau |
MNI Beijing Bureau |

To read the full story

Why Subscribe to


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.