MNI China Press Digest, Nov 27: Deficit Rate, Private Sector

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

Tuesday:

     Breaking the 3% deficit-to-GDP ratio is no big deal if it offers an

opportunity to support large-scale tax cuts and help sustain fiscal operations,

Time Weekly reported Tuesday, citing Yang Zhiyong from CASS's National Academy

of Economic Strategy. By reducing the corporate tax burden, it will help to

improve productivity and lower prices of goods and services, helping stimulate

consumption, hopefully expanding the tax base and creating a greater overall tax

take for the government, the newspaper said citing Yang. (Link to the story:

https://bit.ly/2SgbKOC)

     Many of China's leading policy planners, including the National Development

and Reform Commission(NDRC), the Ministry of Commerce and local governments,

have launched extensive research on private sector enterprises, planning to

propose a new round of support policies, the Economic Information Daily said

Tuesday. The private sector is expected to gain better access to major areas of

the economy, including electricity, oil, natural gas, railways, aviation,

communications and the military, the newspaper reported, citing Ning Jizhe,

deputy director of the NDRC. (Link to the story: https://bit.ly/2RnbKfi)

     Nanjing's municipal government will set up a CNY10 billion bailout funds

alongside CNY1 billion of refinancing funds to help ease financing difficulties

for private-sector firms, Xinhua news agency reported Tuesday. Beijing's

municipal government will also establish a total CNY2.05 billion fund to support

20 private enterprises in the Daxing district that have 'potential', but facing

financing difficulties, Beijing Daily said on Tuesday. The total includes a

CNY300 million sub-fund for "Internet+" sectors, CNY5 million for cultural and

creative industries, and CNY1.25 billion for the the biomedical industry. (Link

to the story: https://bit.ly/2DMKbIE, https://bit.ly/2TMisgJ)

--MNI Beijing Bureau; +86 (10) 8532-5998; email: wanxia.lin@marketnews.com

--MNI London Bureau; tel: +44 203-586-2225; email: les.commons@marketnews.com

[TOPICS: M$A$$$,M$Q$$$,MBQ$$$]