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MNI China Press Digest Nov 15: Deficit, Stock, Housing

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 Friday:

  • China’s deficit-to-GDP ratio is expected to exceed 3% next year, with the possibility to approach or even exceed historical high, Economic Information Daily reported citing Guo Kai, executive director of China Finance 40 Forum. Meanwhile, authorities should increase the issuance of ultra-long-term special treasuries to support major infrastructure projects given the reasonable financing cost, the daily said citing Guo. The central bank will also likely lower the policy interest rate and inject medium- and long-term liquidity via a reserve requirement ratio cut and secondary market treasury trading to support government bond sales, the newspaper said citing Wang Qing, analyst with Golden Credit Rating.
  • The Shanghai Stock Exchange will revise the SSE 180 Index to make it a benchmark representative index and increase its investment value, Securities Daily reported. The reversion will increase the weights of tech-related companies and improve the index’s yield and coverage of market captialisation, the newspaper said. The index, created in 2002, consists of 180 large-cap blue-chip companies, covering 61% of market value, 63% of revenue, 82% of profit and 76% of dividends, the newspaper said.
  • Local governments have completed a total of 2.85 million units in housing delivery programme as of Nov 13, largely improving market expectations, CCTV News reported citing the Ministry of Housing. The housing delivery rate in 74 provinces and cities, including Shanghai, Fujian and Gansu, has exceeded 80%, according to CCTV News.
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MNI (BEIJING) - Highlights from Chinese press reports on Friday:

  • China’s deficit-to-GDP ratio is expected to exceed 3% next year, with the possibility to approach or even exceed historical high, Economic Information Daily reported citing Guo Kai, executive director of China Finance 40 Forum. Meanwhile, authorities should increase the issuance of ultra-long-term special treasuries to support major infrastructure projects given the reasonable financing cost, the daily said citing Guo. The central bank will also likely lower the policy interest rate and inject medium- and long-term liquidity via a reserve requirement ratio cut and secondary market treasury trading to support government bond sales, the newspaper said citing Wang Qing, analyst with Golden Credit Rating.
  • The Shanghai Stock Exchange will revise the SSE 180 Index to make it a benchmark representative index and increase its investment value, Securities Daily reported. The reversion will increase the weights of tech-related companies and improve the index’s yield and coverage of market captialisation, the newspaper said. The index, created in 2002, consists of 180 large-cap blue-chip companies, covering 61% of market value, 63% of revenue, 82% of profit and 76% of dividends, the newspaper said.
  • Local governments have completed a total of 2.85 million units in housing delivery programme as of Nov 13, largely improving market expectations, CCTV News reported citing the Ministry of Housing. The housing delivery rate in 74 provinces and cities, including Shanghai, Fujian and Gansu, has exceeded 80%, according to CCTV News.