MNI China Press Digest April 8: Oil, Housing, Central Huijin

MNI (BEIJING) - Highlights from Chinese press reports on Wednesday:

• Authorities will likely offer some fiscal and taxation support should international crude oil prices continue to rise sharply in future, 21st Century Business Herald reported citing Lu Zhichen, deputy director of the price and cost department of the National Development and Reform Commission. Back in 2022 during the Russia-Ukraine conflict, the government made it clear that once international oil prices exceeded the control ceiling of USD130 per barrel, domestic refined oil prices would not be raised in two months, and phased subsidies would be provided to refining companies, the newspaper said.
• Second-hand housing transactions in Beijing city rose 3.4% y/y, or 144.6% m/m, in March, with a total of 19,886 units sold, reaching a near 15-month high, data by real-estate brokerage company Lianjia showed, though new home sales performed weaker due to less supply especially those meeting demand of first-time buyers. The proportion of entry-level properties and those in outlying areas increased significantly in Q1 transactions, while the housing price index rose by 3.8% in March compared to December, said Gao Yuan, dean of Beijing Lianjia Research Institute. (Source: Securities Daily)
• The total market value of exchange-traded fund (ETF) holdings by Central Huijin and its subsidiaries exceeded CNY1.53 trillion by the end of 2025, up CNY249 billion from end-Q2, making the entity a key stabilising force in the stock market, Securities Daily reported. In addition to mitigating short-term market volatility, the increase in holdings is reportedly focused on sectors aligned with macroeconomic strategies, including technological innovation and high-end manufacturing, supporting industrial upgrading and high-quality economic development, the newspaper said, citing analysts.