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of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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Free AccessMNI China Press Digest, Sep 3:Local Bonds, Liquidity, Property
BEIJING (MNI) - The following lists highlights from the Chinese press for
Monday:
Issuance of local government bonds hit its highest in almost two years last
month, Shanghai Securities News reported. CNY882.97 billion in local government
bonds were issued in August, the highest since July 2016; and the eventual
financing total reached CNY765.485 billion, the highest since September 2016,
the newspaper said, citing data from Wind Information. Local governments'
infrastructure investment also accelerated, with railway construction projects
in Changchun city and Suzhou city being approved, and investment reached
CNY173.732 billion in total, the newspaper said. Various cities and provinces
are discussing infrastructure projects to be made public within the end of the
year, the newspaper noted.
The PBOC is expected to use quantitative monetary policies, such as
adjusting RRR and OMO, to maintain liquidity at a stable level, Securities Daily
reported. Liquidity is facing more uncertainties in September as banks are
facing macro-prudential assessments (MPA) at the end of the month, the U.S. Fed
is expected to increase its interest rate, and the stability of both the yuan
exchange rate and capital flows is facing some pressure, the newspaper said,
citing Wang Youxin, an analyst at a research institute under Bank of China.
Negotiable certificates of deposit maturities will peak this month, though
structural index adjustments of MPA will help reduce MPA pressure on banks, the
newspaper said, citing Ming Ming, analyst at CITIC Securities.
Financing risks of Chinese medium- to small-sized property developers will
likely emerge later this year as financing pressures are increasing, Economic
Information Daily reported. As property policies are still strict and the
central government is working to curb housing price growth, these property
companies are at a disadvantage, particularly with consolidation within the
property sector accelerating, the newspaper said, citing industry insiders.
Policymakers should prevent illegal funds from flowing into the property market,
and should further guide expectations on property price and the development of
the property market, the newspaper said.
--MNI Beijing Bureau; +86 (10) 8532-5998; email: iris.ouyang@marketnews.com
--MNI Beijing Bureau; +86-10-8532-5998; email: beijing@marketnews.com
[TOPICS: M$A$$$,M$Q$$$,MBQ$$$]
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.