MNI China Press Digest, May 22: Foreign Capital, Private Bank

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

on Friday:

     There have been no large-scale foreign capital withdrawals in China despite

the impact of the coronavirus epidemic on foreign companies, official government

newsagency Xinhua reported. Citing Zhang Yesui, the spokesman of the National

People's Congress, Xinhua's report said China's advantages in attracting foreign

capital have not changed and foreign investors remain confident in the long-term

development of their business interests in China. The pandemic will have a

complex impact on global supply chains but it will not reverse the historical

process of globalization, Zhang said. 

     China should consider allowing some mature private banks to issue perpetual

bonds and encourage private banks to issue capital supplementary bonds, the

Shanghai Securities News reported. Citing Guo Xinming, the governor of the PBOC

Nanjing Branch and a representative to the National People's Congress (NPC), the

report also said some of the better private banks should be allowed to publicly

list on the share market and adopt equity incentive mechanisms and employee

stock ownership plans. 

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

--MNI Sydney Bureau; +61 405322399; email: lachlan.colquhoun.ext@marketnews.com

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