PRESS DIGEST - China - May 3
May 3 (Reuters) - Chinese newspapers available in Beijing and Shanghai carried the following stories on Friday. Reuters has not checked the stories and does not vouch for their accuracy.
-- The sovereign wealth funds of China and Russia are ready to double the size of their joint private equity fund this year to $4 billion to boost investment in the two countries, the head of Russia Direct Investment Fund said.
-- If the Chinese economy continues to slow and the impact spills into the labour market, policymakers may be pressured to put stabilising growth at the top of their agenda by sacrificing structural reform, the paper said in an editorial.
-- The United States has used the pretext of "state security" to interfere in U.S. investment by Chinese companies, threatening to politicise Chinese-U.S. economic relations, the paper said in a commentary.
CHINA SECURITIES JOURNAL
-- Recent sharp appreciation in the Chinese currency yuan against the dollar, with a slew of record highs, may not sustain as it is propelled mainly by speculative hot money inflows into China due to large-scale quantitative easing by major Western central banks.
-- A regulatory clampdown on irregularities in the domestic bond market launched in April will effectively curb manipulation by some institutions in the market and will be a long-term positive factor China's capital markets.
SHANGHAI SECURITIES NEWS
-- Government departments headed by the National Development and Reform Commission, China's top economic planner, is expected to complete the planning for a new round of urbanisation in China by 2020.
-- Regulators may soon start approval for new quotas for the Renminbi Qualified Foreign Institutional Investors (RQFII), that allows overseas institutional investors to invest in China's domestic capital markets. Foreign institutions had used up the scheme's initial quota of 70 billion yuan ($11.4 billion) by January. Beijing has agreed to expand the total quota to 270 billion yuan but has not yet started to approve investment with the new quotas.
For Hong Kong and South China newspapers see.....
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