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MNI China Press Digest Oct 30: Demand, Policy, Economy

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:

  • The People’s Bank of China should address low domestic demand by accelerating the downward adjustment of policy interest rates to lower real interest rates significantly, said Zhang Bin, deputy director at the Institute of World Economics and Politics, Chinese Academy of Social Sciences. The government’s broad spending growth needs to exceed the nominal GDP target to provide countercyclical support, Zhang noted. To stabilise the real-estate sector, developers have to improve their cash flow and some firms need to restructure. (Source: 21st Century Business Herald)
  • Authorities should take the current opportunity to stabilise market expectations and raise confidence by increasing the positive tone of fiscal and monetary policy, according to Huang Hanquan, President at the National Development and Reform Commission's Macroeconomic Research Institute. Speaking at a recent seminar, Huang said reforms were needed in key areas such as the fiscal and taxation system, income distribution and social security. Huang noted existing and incremental policies will alleviate insufficient domestic demand to a certain extent.
  • Officials should earnestly implement actions over the next two months and strive to achieve the nation’s annual economic, and social development goals, President Xi Jinping has told provincial and ministerial leaders. Speaking at a CPC seminar, Xi said regions and departments should implement existing and incremental policies and adhere to reform and opening up including connecting with international economic and trade rules.
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MNI (BEIJING)

Highlights from Chinese press reports on Wednesday:

  • The People’s Bank of China should address low domestic demand by accelerating the downward adjustment of policy interest rates to lower real interest rates significantly, said Zhang Bin, deputy director at the Institute of World Economics and Politics, Chinese Academy of Social Sciences. The government’s broad spending growth needs to exceed the nominal GDP target to provide countercyclical support, Zhang noted. To stabilise the real-estate sector, developers have to improve their cash flow and some firms need to restructure. (Source: 21st Century Business Herald)
  • Authorities should take the current opportunity to stabilise market expectations and raise confidence by increasing the positive tone of fiscal and monetary policy, according to Huang Hanquan, President at the National Development and Reform Commission's Macroeconomic Research Institute. Speaking at a recent seminar, Huang said reforms were needed in key areas such as the fiscal and taxation system, income distribution and social security. Huang noted existing and incremental policies will alleviate insufficient domestic demand to a certain extent.
  • Officials should earnestly implement actions over the next two months and strive to achieve the nation’s annual economic, and social development goals, President Xi Jinping has told provincial and ministerial leaders. Speaking at a CPC seminar, Xi said regions and departments should implement existing and incremental policies and adhere to reform and opening up including connecting with international economic and trade rules.