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Policy
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Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM POLICY: -
G10 Markets
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Real-time insight on key fixed income and fx markets.
Launch MNI Podcasts -
Emerging Markets
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Real-time insight of emerging markets in CEMEA, Asia and LatAm region
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Free AccessMNI China Press Digest: Yuan Counter Factor, SOEs, Consumption
BEIJING (MNI) - The following lists highlights from the Chinese press for
Wednesday:
The application of the countercyclical factor by regulators in managing the
yuan's exchange rate is to control one-way bets and not meant to reverse the
direction of the currency's decline, Shanghai Securities News said in an
analysis, citing interviews of analysts. The dollar's strength is one reason
behind the yuan's "phasic" weakness, the newspaper said. Offshore yuan (CNH) may
rebound given the tightening of liquidity by policymakers, which serves to fire
a warning to investors shorting the currency, the newspaper said.
China's state-owned enterprises (SOEs) are accelerating restructuring and
mergers following unprecedented executive shuffling this year, the Economic
Information Daily reported. At least 42 SOEs have made 176 personnel changes
this year, the newspaper said citing government announcements. While personnel
changes may be followed by further consolidations, frequent leadership changes
may also delay implementation of reform, the newspaper said citing Liu Xingguo,
a researcher at China Enterprise Federation. Automobile, telecommunication,
chemical and ship-building are among those industries where consolidations of
SOEs may intensify, the newspaper said.
China plans to boost the consumption of high-end information-based consumer
products, including smart home appliances, wearables and intelligence-based
medical and transportation, the Economic Information Daily said citing the
Ministry of Industry and Information Technology. The consumption of information
technology rose 15% in the first half of this year to CNY2.3 trillion, more than
doubled China's GDP rate, and will remain a driver for growth given its
potential, the newspaper said.
--MNI Beijing Bureau; +86 10 8532 5998; email: william.bi@mni-news.com
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.