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MNI China Press Digest, Sept 9: Currency, LGBS, Pork Market

     BEIJING (MNI) - The following lists highlights from Chinese press reports
on Monday:
     There would be no disorderly depreciation in the value of the yuan as there
were many factors supporting the currency at present, according to a front page
commentary in the China Securities Journal on Monday. Noting that the US dollar
was a high point in its cycle, the commentary said there were no great
expectations for a depreciation in the yuan and the impact of CNY exchange rate
fluctuation on capital flows and asset prices is controllable.
     A total of CNY3.98 trillion in local bonds have been issued in China so far
this year, with CNY2.90 trillion in local government bonds, according to data
from the Ministry of Finance. The local government figure comprises new special
bonds of CNY2.01 trillion. Commenting on the data, Securities Times said the
local debt funds are being used to stabilize investment.
     Local governments and departments have taken a series of strong measures to
stabilize the pork market this year, People's Daily reported Monday. The
prevention and control of swine fever in Africa has been strengthened and pork
production and distribution are recovering, according to the report. "The pork
market is stable, and the meat supply can be guaranteed," the paper said.
--MNI Beijing Bureau; tel: +86 (10) 8532-5998; email: flora.guo@marketnews.com
--MNI Sydney Bureau; +61 405322399; email: lachlan.colquhoun.ext@marketnews.com
[TOPICS: M$A$$$,M$Q$$$,MI$$$$]

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