MNI China Press Digest, Oct 29: Investment, Housing, Tax Cuts

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

Monday:

     The National Development and Reform Commission this month has accelerated

approvals for infrastructure projects valued more than CNY100 billion, which may

boost Q4 fix-asset investment, the Securities Daily said on Monday. The Ministry

of Finance requested to speed up the issuance and use of local government

special bonds to support the economy, the daily said. The growth of

infrastructure construction is expected to rebound slowly, the daily said citing

Li Chao, chief analyst at Huatai Securities. (Link to the story:

https://bit.ly/2OcY4kG)

     The central government won't change its determination to curb excessive

gains in housing prices, nor will it abandon regulations and controls over the

property market, Xinhua News Agency said on Monday. The commentary attempted to

discredit rumors that the downward pressure on the economy may prompt a

relaxation of rules on real estate. The real estate market has been under

increasing curbs for more than two years. In the first half this year, there

were 200 instances of regulatory policies introduced by the local governments,

and the controls are unlikely to be relaxed soon, Xinhua said. (Link to the

story: https://bit.ly/2O99HZX)

     China is expected to cut more taxes and fees, including simplifying and

reducing value-added taxes, as well as cutting businesses' social insurance

contributions, the China Securities Journal reported on Monday citing

unidentified sources. Cutting unnecessary fiscal expenditures, optimizing the

spending structure, and strengthening the tax collection together can allow

further tax cuts without increasing the national deficit and debt, the newspaper

said citing Liu Shangxi, the dean of the China Academy of Fiscal Science under

the Ministry of Finance.(Link to the story: https://bit.ly/2zeUqkS)

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

--MNI Beijing Bureau; +86 10 8532 5998; email: william.bi@mni-news.com

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