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MNI China Press Digest Sept 27: Stimulus, EU EVs, Pork Prices

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

Highlights from Chinese press reports on Friday:

  • China’s leaders signalled additional pro-growth policies at the Politburo meeting this week, greatly boosting investor confidence, with some private equity funds noting the stock market could have bottomed out and might rebound, 21st Century Business Herald reported. Additional special treasury bonds to replenish banks’ capital could be issued, as well as local government special bonds to help resolve implicit debts, said Li Zhan, chief economist at China Merchants Fund. The central government could directly purchase unsold housing or subsidise local governments to buy property following policymakers’ calls to stabilise the housing market from further falls, the news outlet noted.
  • Technical teams from China and the EU are negotiating a flexible price commitment plan to resolve the Brussels anti-subsidy case against Chinese electric vehicles, He Yongqian, spokesperson at the Ministry of Commerce told reporters. The working team discussions follow the direction set at the leadership meeting on Sept 19, He added. China would make every effort to agree a solution framework before the final decision, He noted. (Source: MOFCOM website)
  • Pork prices in China, a key component of CPI, fell to CNY19.6 per kg in the third week of September, down 2.2% from the previous week, and falling 6% from the third week of August, 21st Century Business Herald reported. The news outlet noted prices fell after planned pig output in September increased by 9.26% month-on-month leading to an increase in supply. Looking ahead, prices are likely to increase mildly around the October holiday before moderately declining in November and December due to an increase in output, analysts said.
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Highlights from Chinese press reports on Friday:

  • China’s leaders signalled additional pro-growth policies at the Politburo meeting this week, greatly boosting investor confidence, with some private equity funds noting the stock market could have bottomed out and might rebound, 21st Century Business Herald reported. Additional special treasury bonds to replenish banks’ capital could be issued, as well as local government special bonds to help resolve implicit debts, said Li Zhan, chief economist at China Merchants Fund. The central government could directly purchase unsold housing or subsidise local governments to buy property following policymakers’ calls to stabilise the housing market from further falls, the news outlet noted.
  • Technical teams from China and the EU are negotiating a flexible price commitment plan to resolve the Brussels anti-subsidy case against Chinese electric vehicles, He Yongqian, spokesperson at the Ministry of Commerce told reporters. The working team discussions follow the direction set at the leadership meeting on Sept 19, He added. China would make every effort to agree a solution framework before the final decision, He noted. (Source: MOFCOM website)
  • Pork prices in China, a key component of CPI, fell to CNY19.6 per kg in the third week of September, down 2.2% from the previous week, and falling 6% from the third week of August, 21st Century Business Herald reported. The news outlet noted prices fell after planned pig output in September increased by 9.26% month-on-month leading to an increase in supply. Looking ahead, prices are likely to increase mildly around the October holiday before moderately declining in November and December due to an increase in output, analysts said.