November 04, 2024 01:21 GMT
MNI China Press Digest Nov 4: PBOC, Visas, Foreign Investors
MNI picks key stories from today's China press
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MNI (BEIJING)
Highlights from Chinese press reports on Monday:
- The People’s Bank of China will likely maintain a relatively high net purchase of government bonds in the short term, and use the outright reverse repo to keep liquidity conditions relatively loose, Economic Information Daily reported, citing analysts. Market liquidity faces tightening pressure from CNY2.9 trillion of maturing medium-term lending facility funds and the increasing possibility of additional government bond issuance by year-end, said analysts at Zhongtai Securities. The PBOC purchased net CNY200 billion of treasuries in October, maintaining net buying for the third consecutive month, the Daily said.
- China’s visa-free travel policy will be expanded for normal passport holders from Slovakia, Norway, Finland, Denmark, Iceland, Andorra, Monaco, Liechtenstein and South Korea, China’s Foreign Ministry has announced. The move will take effect from Nov 8 and would further facilitate personnel exchanges between China and foreign countries, Foreign Ministry spokesman Lin Jian noted.
- Chinese authorities have lowered the equity investment threshold for foreign investors in a bid to encourage long-term and value investment, Securities Times reported. The revised rules shorten the lockup period for overseas investors to 12 months from three years and lower asset requirements for non-controlling shareholders. The new rules allow non-Chinese investors to make strategic investments in listed companies and make tender offers, the newspaper said.
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