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MNI China Press Digest May 31: Shanghai, Markets, Pensions


Highlights from Chinese press reports on Wednesday:

  • The Shanghai Government has given policy support to boost private investment, an important part of China’s economy, according to Gu Jun, deputy secretary-general at the Shanghai Municipal Government. Gu said private investors will benefit from improved market access, as the government breaks down invisible barriers and creates a level playing field. Government procurement departments will seek to source 40% from private SMEs and no longer require firms to use cash deposits as insurance for project completion. The Shanghai Government will offer other support such as tax benefits, reduced land acquisition cost and lower utility bills. (Source: Yicai)
  • China’s capital markets have recently under performed due to the weak economic rebound and a slowing real estate market, which has put a strain on company profits and cash flows, according to an editorial by Yicai. Authorities should encourage more M&A and consolidation activity to repair firms' balance sheets, and strengthen the asset valuation industry, and price mechanisms. Policymakers should focus on developing the asset management industry to better match risk appetites between investors and fund managers. (Source: Yicai)
  • The Government should prioritise the development of pension and medical services to support its rapidly ageing society, according to Zhang Shaobai, general manager at Chinese Life Pension Insurance Guizhou province. Zhang noted China’s society is experiencing the fastest rate of ageing in the world and needs support to adequately deal with the new challenge. Policymakers face a complex situation due to fast urbanisation and disparities between rural and urban areas. China’s elderly will benefit from holistic integration of policies and resources across state and private sector, Zhang said. (Source: 21st Century Herald)
MNI Beijing Bureau |
MNI Beijing Bureau |

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