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     BEIJING (MNI) - The following lists some highlights from Chinese press
reports on Thursday:
     The People's Bank of China may cut interest rates as early as the first
quarter next year, said Ming Ming, the chief analyst at CITIC Securities in a
report, noting that Chinese monetary policy has not been completely decoupled
with that of the U.S. and PBOC's easing has only been postponed. The Federal
Reserve is expected to cut rates again early next year, even if it suspends the
rate cut in December, said Ming.
     China's local governments should use more direct financing tools including
medium-term notes to support the construction of city clusters in the Yangtze
River Delta and Xiong'an New Area, said Securities Daily in a commentary on
Thursday. Funding from fiscal budget and bank loans is insufficient, the
newspaper said.
--MNI Beijing Bureau; tel: +86 (10) 8532-5998; email:
--MNI Beijing Bureau; +86 10 8532 5998; email:
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