PRESS DIGEST - China - July 18
July 18 (Reuters) - Chinese newspapers available in Beijing and Shanghai carried the following stories on Thursday. Reuters has not checked the stories and does not vouch for their accuracy.
CHINA SECURITIES JOURNAL
- China will not use large-scale fiscal stimulus measures this year, Minister of Finance Lou Jiwei said on Wednesday at a Sino-U.S. meeting, but will instead introduce 900 billion yuan ($146.69 billion) of tax cuts, focussing on small businesses, to be implemented within two years.
- China's June Foreign Direct Investment (FDI) hit $14.389 billion, a 27-month high and an increase of 20.12 percent (excluding banking, securities and insurance field data) from the same month last year, according to figures released by the Ministry of Commerce on Wednesday.
- China's positive June FDI numbers underline the nation's continuing appeal to overseas investors and the investment should be harnessed to help stabilise the economy, said an editorial.
- China's consumer consumption is expected to grow at a faster rate in the second half of this year, Ministry of Commerce spokesman Shen Danyang told a news conference on Wednesday.
For Hong Kong and South China newspapers see.....
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