Free Trial
AUSSIE BONDS

AOFM Weekly Issuance Slate

US TSYS

Off Lows

CHINA RATES

China Repo Rates Rise Friday

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access
     BEIJING (MNI) - China will pursue a "reasonable quantity and steady
improvement in quality" of growth next year, with policies kept stable at the
macro level and flexible on the micro scale, according to a statement released
by Xinhua News Agency on Thursday following the Central Economic Work
Conference.
     Here are major takeaways:
     - China must be firm in preventing systemic risks. The economy's leverage
ratio must be stabilised. China will accelerate financial system reform, and
focus on improving the quality of both listed companies and of delisting
mechanisms. Authorities must guide banks to serve the real economy and support
small businesses.
     - Monetary policy will continue to be prudent and more flexible while
keeping liquidity at a reasonable and ample level. The expansion of aggregate
financing and credit should be in line with growth and funding costs should be
reduced.
     - Fiscal policy will continue to be active, with improved quality and
efficiency while emphasising structural adjustment. China will consolidate and
expand the effectiveness of tax cuts and fee reductions and optimise the
structure of fiscal expenditure.
     - The country will deepen financial supply-side reform, smooth the
transmission of monetary policy, boost financing to manufacturing and tackle
high financing costs. It will address the difficulties faced by private and
small and medium-sized businesses.
     - China must adhere to the principle that housing is for living, not for
speculation, promote stable and healthy development of the real estate market,
allow different measures in different cities, and implement long-term management
to stabilise land and home prices and property market expectations.
     - China will stabilise total employment, improve job structure and quality,
and focus on the employment of major groups. Each family should have at least
one person employed.
     - China will continue to open up, step up protection of foreign investment,
lower overall tariffs and push forward the development of Hainan Free Trade
Port. China will actively participate in global economic governance and WTO
reforms. It will speed up negotiations with others on multilateral and bilateral
free trade agreements.
--MNI Beijing Bureau; +86 (10) 8532 5998; email: marissa.wang@marketnews.com
--MNI Beijing Bureau; +86 (10) 8532-5998; email: archie.zhang@marketnews.com
--MNI Beijing Bureau; +86 (10) 8532-5998; email: wanxia.lin@marketnews.com
--MNI London Bureau; +44 203 865 3829; email: jason.webb@marketnews.com
[TOPICS: M$A$$$,M$Q$$$,MC$$$$,MI$$$$]

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.