MNI China Press Digest, Oct 22: LPR, Imports, Consumption

     BEIJING (MNI) - The following lists highlights from Chinese press reports

on Tuesday:

     The PBOC could continue to cut the reserve requirement ratio or lower the

rate of medium-lending facility at the end of this year, according to a report

in the National Business Daily. Citing Wang Qing, chief macroeconomic analyst at

credit rating agency Dongfang Jincheng, the report says the measures could be

needed to guide the Loan Prime Rate (LPR) down. A lower LPR would help reduce

financing costs in the real economy, while also stabilizing price expectations,

the report said.

     China will be the "world market" as well as the "world factory" in the

future, the People's Daily Overseas Edition said in a commentary. China's

initiative to expand imports would not only boost domestic consumption, but also

drive the global economy, the newspaper said. To support such an initiative,

China should further reduce the overall level of tariffs, introduce relevant

international standards to upgrade domestic companies, and expand the number of

middle-income earners, the newspaper said.

     China will continue to boost consumption to drive economic growth amid

increasing external uncertainties, the Economic Information Daily said in a

front-page commentary. The government should stabilize the employment market and

increase the supply of high-quality products and services, the newspaper said.

The government should also ease consumers' spending concerns by improving the

social security system and promoting the construction of policy housing as high

housing prices have dampened urban consumption, the commentary said.

--MNI Beijing Bureau; +86 (10) 8532-5998; email: wanxia.lin@marketnews.com

--MNI Sydney Bureau; +61 405322399; email: lachlan.colquhoun.ext@marketnews.com

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