MNI China Press Digest Sept 9: FDI, Property, Economy

MNI (BEIJING) - Highlights from Chinese press reports on Monday:

• China will permit wholly foreign-owned hospitals in nine areas, including Beijing and Shanghai, to boost foreign investment, Securities Times reported, citing a Ministry of Commerce document released on Sunday. Foreign investors can develop and apply human stem cells and gene diagnosis in Free Trade Zones in Beijing, Shanghai, Hainan and Guangdong, the document said. Meanwhile, the 2024 negative list for foreign investment has fully opened the manufacturing sector by removing publication printing and production of Chinese medicine, the newspaper noted.
• Homebuyer sentiment improved in August with 24% of respondents taking a wait-and-see approach, down two percentage points from last month, Securities Times reported, citing a survey of 11,000 residents by the China Index Academy. Developers’ promotions had improved home buying appetite, with 16% of respondents increasing their willingness to buy, up 1.2% m/m, while 31% reported a weaker willingness, down from July's 34%, the survey showed.
• Yicai news agency’s Chief Economist Confidence Index reached 49.96 in September, down from August’s 50.3, and below 50.0 for the first time since January 2023. Cai Wei, chief economist at KPMG, said Q3 data showed the economy was under pressure with PMI declining and market imbalances remaining prominent. Looking ahead, Cheng Shi, chief economist at ICBC International, expects construction, investment and consumption to increase as authorities accelerate issuing special bonds and make use of CNY150 billion of funds to support consumer goods trade-in projects.