MNI China Press Digest, May 8: Infrastructure, Car Sales

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

on Friday:

     The Chinese city of Shanghai has released a three-year CNY270 billion plan

to promote the construction of technology-driven infrastructure, the 21st

Century Business Herald reported. Of this CNY270 billion, CNY210 billion would

be private investment, the newspaper said. The Shanghai government will also

support policy and commercial banks to set up a program of CNY100 billion in

concessional loans to guide more private investment in new infrastructure, the

Herald said. 

     Automobile sales in China are picking up rapidly, with sales for May

expected to be close to the same as last year, according to a report in the

Economic Information Daily. Leading auto companies like SAIC Motor and Geely

have posted April sales around the same levels as April last year, and more

companies will return to the levels seen before the coronavirus epidemic in May,

the newspaper said citing Wu Yingqiu, chairman of Global Auto. The sales of

second-hand cars may show positive year-on-year growth in May, the newspaper

added. 

--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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