May 3 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
-- 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.....