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BEIJING (MNI) - The following lists highlights from Chinese press reports
China won't rush to reach a deal with the U.S. even as it is in favour of
one, as China doesn't believe a deal will fundamentally change China-U.S.
economic relations, the Global Times said in an editorial on Sunday in response
to President Donald Trump saying China wants a deal more than the U.S. Trump,
who disparaged China's supply chain as "all broken like an egg", was
exaggerating U.S. strength to cover up its own downturn, it said. China, which
has the world's widest range of manufacturing capacity, isn't afraid of any
games against its supply chain, the newspaper said.
China's full opening-up of its financial sector will help stabilizing the
yuan in the long term, the Economic Information Daily said. More foreign
investors in the Chinese market will help smoothen the flow of cross-border
funds, lending fundamental support to the yuan, the newspaper said.
China's inflation is expected to remain high into the first quarter next
year, and some monthly reading may exceed 4% y/y from 3.8% in October, the
Shanghai Securities Journal reported citing Liu Xuezhi, a senior analyst at the
Bank of Communications. Pork prices will continue to be the main driver for
rising CPI, the newspaper said.
Chinese commercial banks must deepen supply-side reform to better serve
quality development of the economy, said Economic Daily in a commentary. Banks
failed to meet the needs of private and small companies for financial services,
but instead leaned too heavily on local governments, state-owned enterprises and
real estate industry, the newspaper said. Banks give too much credit to
state-backed borrowers and lack the ability to detect risks of rapidly rising
leverage ratios, the newspaper said.
--MNI Beijing Bureau; +86 (10) 8532-5998; email: firstname.lastname@example.org
--MNI Beijing Bureau; +86 10 8532 5998; email: email@example.com