MNI BRIEF: China Visitor Mobile Payments Surge in H1

MNI China Daily Summary: Friday, July 26

MNI BRIEF: Foreign Firms Content In China

MNI BRIEF: Turkish Inflation Expectations Steady- TEBA

MNI China Press Digest July 26: Deposit Rates, Fiscal, PBOC

MNI: PBOC Net Injects CNY299.05 Bln via OMO Fri

MNI: US JUN PERSONAL INCOME +0.2%; NOM PCE +0.3%

Monthly Retail Sales Volatility Obscures Still-Positive 3m/3m Trend

Retail Sales Grow Slightly In June, Consistent With Surveys

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

MNI China Press Digest May 28: Housing, FTA, Integrated Circuit

MNI (Singapore)
MNI (Beijing)

MNI picks key stories from today's China press

Policy NewsHomepageCentral Bank NewsPBOCAPACChinaStoryBond Market NewsEM Policy NewsEM Policy StoryEM Central Bank NewsPeoples Bank of ChinaPolicy StoryRegion
True

Highlights from Chinese press reports on Tuesday:

  • Shanghai became the first among China’s biggest cities to lower down-payment ratios and the mortgage rate floor for homebuyers on Monday. The down-payment ratios for first- and second-time buyers were lowered to a minimum of 20% and 35%, from the previous 30% and 50%. The minimum mortgage rates for first- and second-time purchases were lowered to 3.5% and 3.9%. The city also allowed families with multiple children to purchase an additional house and lower the income tax, and social security payment requirement for non-local homebuyers. (Source: Securities Daily)
  • China wants to accelerate China-Japan-ROK Free Trade Agreement negotiations and strengthen cooperation in high-end manufacturing, new energy industries, artificial intelligence, and biomedicine, Premier Li Qiang said at the 9th China-Japan-ROK Leaders Meeting in Seoul. Huang Fei, director at the Seoul Graduate School of Science noted the three nations have huge opportunity for industrial and supply-chain synergy beneath end product competition. Chen Yan, executive director of the Japan Enterprise Research Institute said Japanese firms should be important partners in technological fields, but cooperation remained uncertain. (Source: Yicai)
  • China set up a national integrated circuit industry investment fund (phase III) on Friday with registered capital totaling CNY344 billion. The six major state-owned banks including Industrial and Commercial Bank of China and Agricultural Bank of China on Monday also pledged to contribute CNY114 billion, with a shareholding ratio of 33.14%. The fund is jointly funded by the Ministry of Finance and 18 other shareholders. The registered capital of the third phase of the fund has increased significantly, exceeding the combined amount of the first and second phases. (Source: China Securities Journal)
279 words

To read the full story

Close

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.

Highlights from Chinese press reports on Tuesday:

  • Shanghai became the first among China’s biggest cities to lower down-payment ratios and the mortgage rate floor for homebuyers on Monday. The down-payment ratios for first- and second-time buyers were lowered to a minimum of 20% and 35%, from the previous 30% and 50%. The minimum mortgage rates for first- and second-time purchases were lowered to 3.5% and 3.9%. The city also allowed families with multiple children to purchase an additional house and lower the income tax, and social security payment requirement for non-local homebuyers. (Source: Securities Daily)
  • China wants to accelerate China-Japan-ROK Free Trade Agreement negotiations and strengthen cooperation in high-end manufacturing, new energy industries, artificial intelligence, and biomedicine, Premier Li Qiang said at the 9th China-Japan-ROK Leaders Meeting in Seoul. Huang Fei, director at the Seoul Graduate School of Science noted the three nations have huge opportunity for industrial and supply-chain synergy beneath end product competition. Chen Yan, executive director of the Japan Enterprise Research Institute said Japanese firms should be important partners in technological fields, but cooperation remained uncertain. (Source: Yicai)
  • China set up a national integrated circuit industry investment fund (phase III) on Friday with registered capital totaling CNY344 billion. The six major state-owned banks including Industrial and Commercial Bank of China and Agricultural Bank of China on Monday also pledged to contribute CNY114 billion, with a shareholding ratio of 33.14%. The fund is jointly funded by the Ministry of Finance and 18 other shareholders. The registered capital of the third phase of the fund has increased significantly, exceeding the combined amount of the first and second phases. (Source: China Securities Journal)