MNI China Press Digest Nov 27: Insurance, Tax, U.S. Trade

Highlights from Chinese press reports on Wednesday:

• Insurance funds should continue supporting major national strategies and increase investment in strategic emerging industries, advanced manufacturing, and tech-based infrastructure, China Securities Journal reported citing Li Yunze, director at the National Financial Regulatory Administration. Industry insiders expect relaxation in regulations on using insurance funds and an improvement to assessment mechanisms to encourage long-term investment, the newspaper said.
• China saw 12.8 million newly-established tax-related business entities during the first three quarters of the year, up 4% y/y, slower than the 28.3% y/y seen during the same period last year, data from the State Administration of Taxation showed. The results demonstrated continuous improvement in business confidence but increased operating pressure and high-base effects had caused the deceleration. (Source: Yicai)
• Agricultural trade can be the foundation of China U.S. economic relations going forwards, given the complimentary nature of Beijing’s huge consumer market and Washington’s large export volume, according to Zheng Yi, chairman of the Shanghai American Chamber of Commerce, speaking at a recent forum. Wang Zhan, chairman of the Shanghai Federation of Social Sciences, said Shanghai has a diplomatic role between the two nations as the top destination for foreign-funded enterprises, and can work to strengthen commercial and people exchanges to reduce the impact of changing U.S. policy. (Source: Yicai)