MNI China Press Digest, Sept 18: RRR, Land Sales, Employment

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

Tuesday:

     Experts expect another reserve requirement ratio cut for banks as the PBOC

continues to inject liquidity to stabilise the domestic market, China Securities

Journal reported. The PBOC's injection of CNY265 billion in one-year medium-term

lending facilities (MLF) on Monday surprised the market, the newspaper said, as

the PBOC had injected MLF earlier this month and liquidity is abundant. The

PBOC's MLF move aims to fill a potential liquidity gap in the near future, the

report said.

     Land sales are cooling in China as tight controls on the property market

weigh on financing and confidence in the sector, Securities Daily reported. As

of August, 807 land auctions have failed this year, with 795.4 billion square

meters of land unsold -- 7.3 times the number of failed cases last year, the

newspaper said, citing data from China Index Academy. More failed cases happened

in Tier-1 and Tier-2 cities, the report said, citing analysts. Property

developers are acquiring less land, as financing pressures are still increasing

despite high-level sales, the newspaper said, citing Zhang Dawei, chief analyst

at Centaline Group.

     Chinese Vice Premier Hu Chunhua stressed on Monday the need to focus on

improving employment, the official People's Daily reported. China should take

concrete steps to stabilise employment, said Hu, according to the newspaper.

Local governments should take more measures to stabilise jobs amid emerging

problems, and should improve innovative sectors to help boost job creation, Hu

said.

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

--MNI Beijing Bureau; +86-10-8532-5998; email: beijing@marketnews.com

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