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MNI China Press Digest Nov 29: Rate Cut Room, Logistics, Stock

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:

  • Monetary authorities have room for 40 basis points of interest rate cuts in future, said Sheng Songcheng, professor of economics and finance at the China Europe International Business School, after analysing China’s historical monetary policy to CPI relationship. Sheng said officials needed monetary policy to remain supportive to restore low corporate investment confidence. Given recent PBOC forward guidance, Sheng anticipated authorities will cut the reserve requirement ratio by 0.25-0.5 percentage points this year. A RRR cut will be needed to support the issuance of treasury bonds and local bonds.
  • Authorities plan to reduce the ratio of total social logistics costs to GDP from 14.4% in 2023 to about 13.5% in 2027, according to Zhang Shixin, deputy secretary-general at the National Development and Reform Commission. Speaking at a press conference, Zhang said the government would deepen integration between logistics innovation and manufacturing, commerce and trade, and unblock domestic and international logistics networks. Wu Junyang, head of the Economic and Trade Department at the NDRC, said officials will support firms to enhance international logistics cooperation and co-build overseas storage facilities.
  • Shenzhen city said it will comprehensively improve the quality of listed companies with their total market value exceeding CNY15 trillion by 2027, Yicai.com reported citing the municipal government’s plan. The city also aims to promote the vitality of the merger and acquisition, and restructuring market, with the total number of M&A and restructuring projects exceeding 100 and total transaction value exceeding CNY30 billion, the newspaper said.
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MNI (BEIJING) - Highlights from Chinese press reports on Friday:

  • Monetary authorities have room for 40 basis points of interest rate cuts in future, said Sheng Songcheng, professor of economics and finance at the China Europe International Business School, after analysing China’s historical monetary policy to CPI relationship. Sheng said officials needed monetary policy to remain supportive to restore low corporate investment confidence. Given recent PBOC forward guidance, Sheng anticipated authorities will cut the reserve requirement ratio by 0.25-0.5 percentage points this year. A RRR cut will be needed to support the issuance of treasury bonds and local bonds.
  • Authorities plan to reduce the ratio of total social logistics costs to GDP from 14.4% in 2023 to about 13.5% in 2027, according to Zhang Shixin, deputy secretary-general at the National Development and Reform Commission. Speaking at a press conference, Zhang said the government would deepen integration between logistics innovation and manufacturing, commerce and trade, and unblock domestic and international logistics networks. Wu Junyang, head of the Economic and Trade Department at the NDRC, said officials will support firms to enhance international logistics cooperation and co-build overseas storage facilities.
  • Shenzhen city said it will comprehensively improve the quality of listed companies with their total market value exceeding CNY15 trillion by 2027, Yicai.com reported citing the municipal government’s plan. The city also aims to promote the vitality of the merger and acquisition, and restructuring market, with the total number of M&A and restructuring projects exceeding 100 and total transaction value exceeding CNY30 billion, the newspaper said.