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MNI China Press Digest Sept 19: Capital Market, Macro, Finance

MNI picks keys stories from today's China press
Central Bank NewsPolicy NewsPBOCHomepageAPACChinaEM Policy NewsEM Central Bank NewsPeoples Bank of ChinaStoryRegion
MNI (SYDNEY)

Highlights from Chinese press reports on Thursday:

  • China will promote state-owned enterprises to invest in the capital market by focusing on long-term capital, the State Council executive meeting said on Wednesday. Authorities will improve policies related to SOE investment and support domestic and overseas listings for qualified technology firms. Additionally, the government will develop equity transfers and the merger and acquisition market, and encourage private capital to establish market-oriented M&A funds to promote the venture capital industry, the meeting said. (Source: Xinhua News Agency)
  • Recent data showed authorities need to increase counter-cyclical measures to achieve the annual economic growth target of about 5%, given increasing pressure in Q3, experts interviewed by Yicai said. Wang Qing, chief macro analyst at Orient Securities, said August's macro data showed a downward trend from Q2, with weak consumption and private investment. Authorities are likely to issue more treasury bonds, cut interest rates and further lower newly issued residential mortgages to stimulate the economy, Wang expected.
  • China’s Inclusive Finance Prosperity Index reached 48.4 points for August, down 0.4 points from July, data from the China Economic Information Service and China Association of Small and Medium Enterprises showed. Loan balances of technology-based SMEs, specialized and new enterprises and micro loans increased by 21.2%, 14.4%, and 16.0% y/y. The index tracks the financing and development of SMEs, and industrial and commercial households. (Source: Securities Daily)
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MNI (SYDNEY)

Highlights from Chinese press reports on Thursday:

  • China will promote state-owned enterprises to invest in the capital market by focusing on long-term capital, the State Council executive meeting said on Wednesday. Authorities will improve policies related to SOE investment and support domestic and overseas listings for qualified technology firms. Additionally, the government will develop equity transfers and the merger and acquisition market, and encourage private capital to establish market-oriented M&A funds to promote the venture capital industry, the meeting said. (Source: Xinhua News Agency)
  • Recent data showed authorities need to increase counter-cyclical measures to achieve the annual economic growth target of about 5%, given increasing pressure in Q3, experts interviewed by Yicai said. Wang Qing, chief macro analyst at Orient Securities, said August's macro data showed a downward trend from Q2, with weak consumption and private investment. Authorities are likely to issue more treasury bonds, cut interest rates and further lower newly issued residential mortgages to stimulate the economy, Wang expected.
  • China’s Inclusive Finance Prosperity Index reached 48.4 points for August, down 0.4 points from July, data from the China Economic Information Service and China Association of Small and Medium Enterprises showed. Loan balances of technology-based SMEs, specialized and new enterprises and micro loans increased by 21.2%, 14.4%, and 16.0% y/y. The index tracks the financing and development of SMEs, and industrial and commercial households. (Source: Securities Daily)