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MNI China Press Digest Oct 21: CSRC, PBOC Tool, Banking

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 Monday:

  • The China Securities Regulatory Commission appreciates the current positive market momentum and will take measures to further stabilise expectations and strengthen confidence, Commission representatives said at a recent symposium, the Securities Times has reported. Authorities need to promote more high-quality tech firms to go public, facilitate mergers and reorganisations, normalise IPOs, cultivate patient capital and guide medium- and long-term funds into the market. Additionally, the government should deepen law-based market reforms, improve expectation management, and guide rational and value based investment, the newspaper said.
  • A total of 23 listed companies have disclosed plans to repurchase or increase stock holdings under the central banks’ relending programme so far, with funds likely to reach CNY11 billion, The Paper reported. The companies, or their controlling shareholders, have signed loan agreements or obtained loan commitment letters with a total of six banks, the newspaper said. Analysts noted firms with a dividend rate equal to or above the 2.25% upper limit of banks’ loan interest rate will have enthusiasm for the programme, the newspaper said.
  • China’s banking sector performance shows regional disparities are widening, with the NPL ratio notably increasing in some central and western provinces, a report from the China Banking Association has said. However, the report highlighted overall commercial banks’ non-performing loan ratio reached 1.56% by the end of June, down 0.06 percentage points from the same period in 2023, and the lowest level since 2016. The report noted downward pressure on retail loan asset quality was more obvious than with corporate loans. (Source: Yicai)
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MNI (BEIJING)

Highlights from Chinese press reports on Monday:

  • The China Securities Regulatory Commission appreciates the current positive market momentum and will take measures to further stabilise expectations and strengthen confidence, Commission representatives said at a recent symposium, the Securities Times has reported. Authorities need to promote more high-quality tech firms to go public, facilitate mergers and reorganisations, normalise IPOs, cultivate patient capital and guide medium- and long-term funds into the market. Additionally, the government should deepen law-based market reforms, improve expectation management, and guide rational and value based investment, the newspaper said.
  • A total of 23 listed companies have disclosed plans to repurchase or increase stock holdings under the central banks’ relending programme so far, with funds likely to reach CNY11 billion, The Paper reported. The companies, or their controlling shareholders, have signed loan agreements or obtained loan commitment letters with a total of six banks, the newspaper said. Analysts noted firms with a dividend rate equal to or above the 2.25% upper limit of banks’ loan interest rate will have enthusiasm for the programme, the newspaper said.
  • China’s banking sector performance shows regional disparities are widening, with the NPL ratio notably increasing in some central and western provinces, a report from the China Banking Association has said. However, the report highlighted overall commercial banks’ non-performing loan ratio reached 1.56% by the end of June, down 0.06 percentage points from the same period in 2023, and the lowest level since 2016. The report noted downward pressure on retail loan asset quality was more obvious than with corporate loans. (Source: Yicai)