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MNI China Press Digest Nov 13: Property, 2025 Holidays, PBOC

MNI picks key stories from today's China press
Central Bank NewsPolicy NewsPBOCHomepageAPACChinaEM Policy NewsChinaEM Central Bank NewsPeoples Bank of ChinaGlobalStoryRegion
MNI (BEIJING)

Highlights from Chinese press reports on Wednesday:

  • First-tier cities are expected to scrap the distinction between ordinary and luxury homes, and lower value-added tax applied to high-end property owners, China Securities Journal reported, citing analysts. Meanwhile, local governments will likely accelerate the purchase of idle land and unsold housing using proceeds from special bonds, which will ease inventory pressure and reduce the structural liquidity risk of the sector, the newspaper said, citing analysts.
  • China’s State Council has announced the national holiday plan for 2025, adding lunar new year's eve and May 2 to the schedule, 21st Century Business Herald has reported. According to the Council's notice, next year will have eight days of spring festival holidays, five days for labour day and eight days for national day and mid-autumn festival.
  • The People’s Bank of China is likely to consider the strength of the Yuan against the U.S. dollar and a basket of currencies when setting its currency strategy following Donald Trump’s election victory, FX traders at international banks told the 21st Century Business Herald. The traders noted the central bank would monitor the yuan against other Asian currencies such as the yen and won to ensure export competitiveness. The yuan-U.S. dollar  rate was unlikely to exceed 7.30 for the remainder of the year, given expectations of a Federal Reserve 25 basis-point cut in December, a trader anticipated.
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MNI (BEIJING)

Highlights from Chinese press reports on Wednesday:

  • First-tier cities are expected to scrap the distinction between ordinary and luxury homes, and lower value-added tax applied to high-end property owners, China Securities Journal reported, citing analysts. Meanwhile, local governments will likely accelerate the purchase of idle land and unsold housing using proceeds from special bonds, which will ease inventory pressure and reduce the structural liquidity risk of the sector, the newspaper said, citing analysts.
  • China’s State Council has announced the national holiday plan for 2025, adding lunar new year's eve and May 2 to the schedule, 21st Century Business Herald has reported. According to the Council's notice, next year will have eight days of spring festival holidays, five days for labour day and eight days for national day and mid-autumn festival.
  • The People’s Bank of China is likely to consider the strength of the Yuan against the U.S. dollar and a basket of currencies when setting its currency strategy following Donald Trump’s election victory, FX traders at international banks told the 21st Century Business Herald. The traders noted the central bank would monitor the yuan against other Asian currencies such as the yen and won to ensure export competitiveness. The yuan-U.S. dollar  rate was unlikely to exceed 7.30 for the remainder of the year, given expectations of a Federal Reserve 25 basis-point cut in December, a trader anticipated.