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BEIJING (MNI) - The following are highlights from Chinese press reports on
Chinese banks should manage risks of shadow-bank lending by actively
communicating with regulators and dispose of assets with poor liquidity and long
maturity, the Securities Daily reported citing Wang Jingwu, the director of
PBOC's Financial Stability Bureau. The central bank should also further promote
policy reform to guide investors' expectations and increase supply of long-term
funding, the newspaper cited Wang as saying.
Chinese state-owned enterprises (SOEs) should withdraw from non-core
industries where they don't have competitive advantages, and invest in key areas
related to national security, the real economy, as well as strategic emerging
industries, the Shanghai Securities Journal reported citing Hao Peng, the party
secretary of the State-owned Assets Supervision and Administration Commission.
SOEs should also expand overseas via the Belt & Road initiative, and actively
integrate into the global industry and value chain, the newspaper cited Hao as
China is confident of achieving the goal of importing $30 trillion worth of
goods in the next 15 years, as it has a large market of 1.4 billion people with
more than 400 million in middle-income group, the China Business News reported
citing Assistant Minister of Commerce Ren Hongbin. China's imports dropped 0.1%
y/y in the first three quarters mainly due to changing prices of commodities,
according to Ren.
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