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MNI China Press Digest Oct 23: NDRC, Shopping Festival, Debt

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 Wednesday:

  • China’s top state planner will continue to launch additional policies such as expanding usage of local special bonds to the widest extent possible and raising student subsidies and loans, CCTV News reported. The National Development and Reform Commission said the country will continue issuing ultra-long-term special treasuries to support major national strategies and security. The Commission will also accelerate measures to encourage foreign investment and build a unified national market.
  • Chinese sellers are branding this year’s Double-Eleven shopping festival, held each year on November 11, on the theme of national subsidies as merchants look to entice sales using the government’s trade-in scheme, Yicai has reported. Industry insiders noted brands and outlets were making strong efforts to highlight the advantages to consumers, given a recent survey showed only 25% of buyers were aware of the benefits, and the possibility the subsidies may be discontinued next year.
  • Overseas institutions held CNY4.4 trillion of debt in the interbank bond market by end-September, marking the 13th consecutive monthly increase, Shanghai Securities News reported, citing data by People's Bank of China Shanghai Head Office. Foreign investors’ holdings of yuan assets, including stocks, are expected to rise further, with the yuan’s stability and relatively independent returns helping global investors to diversify and spread risk, the newspaper said, citing Li Hongyan, deputy director at the State Administration of Foreign Exchange.
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MNI (BEIJING)

Highlights from Chinese press reports on Wednesday:

  • China’s top state planner will continue to launch additional policies such as expanding usage of local special bonds to the widest extent possible and raising student subsidies and loans, CCTV News reported. The National Development and Reform Commission said the country will continue issuing ultra-long-term special treasuries to support major national strategies and security. The Commission will also accelerate measures to encourage foreign investment and build a unified national market.
  • Chinese sellers are branding this year’s Double-Eleven shopping festival, held each year on November 11, on the theme of national subsidies as merchants look to entice sales using the government’s trade-in scheme, Yicai has reported. Industry insiders noted brands and outlets were making strong efforts to highlight the advantages to consumers, given a recent survey showed only 25% of buyers were aware of the benefits, and the possibility the subsidies may be discontinued next year.
  • Overseas institutions held CNY4.4 trillion of debt in the interbank bond market by end-September, marking the 13th consecutive monthly increase, Shanghai Securities News reported, citing data by People's Bank of China Shanghai Head Office. Foreign investors’ holdings of yuan assets, including stocks, are expected to rise further, with the yuan’s stability and relatively independent returns helping global investors to diversify and spread risk, the newspaper said, citing Li Hongyan, deputy director at the State Administration of Foreign Exchange.