The China Digest | China says no plan to boost exports by weakening the yuan
Photo: Wikimedia Commons
Photo: Wikimedia Commons

China says no plan to boost exports by weakening the yuan

The most important and market-moving stories from the Chinese-language media⁠⁠⁠⁠

November 11, 2016 9:41 AM (UTC+8)

China’s government has no intention to boost exports through currency depreciation, said Shen Danyang, a spokesman at the Commerce Ministry in a press conference on Thursday, reported China News Service.
商务部:中国政府无意通过货币贬值来推动出口

Steel capacity cuts to expand next year

Steel companies will need to cut more capacity next year than in 2016, according to a Caixin report on Thursday evening citing a National Development and Reform Commission official. Most cuts this year included long-dormant plants, so next year’s reductions will have to focus on functioning capacity. China plans to cut 45 million tons of capacity this year and 100-150 million tons in the next three to five years.
发改委官员:明年钢铁去产能难度大增

Price controls removed on natural gas for chemical fertiliser

Price controls on natural gas used to produce chemical fertiliser were removed on Thursday, according to the website of the National Development and Reform Commission.
发改委:全面放开化肥用气价格 不会导致价格明显变化

Garlic costs more than fish as price surges

A cold snap has driven up garlic prices by 90% to about US$2.87 a kilogram, or more than the price of bighead carp at US$2.70 a kilogram, Yangcheng Evening News reported Thursday evening. China accounts for 80% of the world’s garlic exports.
蒜你狠再次来袭 几乎每天都在涨价格比鱼贵

Developers’ bond funds to be restricted to public housing

Real estate developers selling corporate bonds will be required to use the funds for public housing programs, according to a Thursday evening report by Caixin, citing plans by the National Reform and Development Commission.
发改委将严禁房地产商发行企业债用于商业地产项目

Hangzhou restricts property purchases by non-residents

The Hangzhou government will restrict property purchases by non-residents, according to its Weibo account on Wednesday, Caixin reported Thursday evening. About 30% of transactions were done by non-residents since the last round of property curbs were introduced on September 19, according to the Hangzhou government.
杭州提高外地人购房门槛 新增一年社保要求

Tax division to split into corporate, personal

The Finance Ministry will divide its tax policy department in two, one focusing on personal taxes and the other on corporates to speed up reform of China’s tax system, Yicai reported.
财政部新设个人所得税处 个税改革有望加快推进

Bidding opens for Shanghai government bonds

Bidding opens for Shanghai’s local-government bonds on the Shanghai Stock Exchange on Friday, according to Sina Finance. Minimum bids are set at 40 million yuan (US$5.88 million), highest at 9 billion yuan.
上海地方债将于双十一首次在上交所招标 最高投标规模共90亿

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