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BEIJING (MNI) - Highlights from China press for Tuesday, January 16:
China will maintain financial deleveraging and purchase curbs for the
property market to help promote quality growth and control financial risks, said
Economic Information Daily.
- Fewer mortgages will be provided and mortgage rates are expected to increase
at a slow pace: daily cites experts;
- Some banks report bigger mortgage quotas, faster pace of approval than last
year, with varying paces of approvals;
*** TAKE AWAY: Housing market remains under tight controls, but some banks are
relaxing mortgage approvals.
PBOC will maintain a prudent and neutral monetary policy, People's Daily
said citing Ruan Jianhong, head of central bank's statistics and analysis
- M2 growth lower than before will become a "new normal": Ruan
- Slower M2 data seen from release last week means banks' money are used more in
line with official guidance: Ruan
*** TAKE AWAY: PBOC accepts slower M2 growth as normal.
China's money market rates will likely rise given stricter regulations
applied to the bond market: China Securities Journal.
- Regulators issued 10 sets of rules and draft acts seeking feedback in less
than half a month: journal
- More policies push up bond yield: 10-year China Development Bank bonds may
rise to 5% (currently just over 4%): journal cited analysts
- 10-year CDB bond yield may rise to 5.3%; 10-year treasury bond yield may reach
4.3%: newspaper cited an analyst.
*** TAKE AWAY: More bond market regulations seen pushing up yields.
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