MNI China Press Digest Aug 29: Policy, Housing, Logistics

Highlights from Chinese press reports on Friday:

• Authorities should make greater efforts to improve policy effectiveness to address the slowing momentum shown in July investment and consumption, said Economic Daily in a commentary. It is necessary to respond to market concerns in a timely manner by continuously enriching the policy toolbox and carrying out targeted regulation, as well as strengthen policy evaluation and coordination, the newspaper said. Forward-looking, effective and coordinated policies will shape positive market expectations and can often be transformed into orderly economic activities, the newspaper said.
• China’s State Council has called on local governments to inventory housing, facilities and land, while accelerating the construction of “good houses” and the renovation of urban villages, Yicai.com reported Friday. Authorities are stepping up the recycling of idle land, with more than 4,300 plots planned for acquisition using local government special bonds, covering over 220 million square meters and worth more than CNY550 billion, the report said.
• The national total social logistics volume was CNY201.9 trillion in the first seven months, an increase of 5.2% y/y, compared with H1’s CNY171.3 trillion and 5.6% growth, Economic Information Daily reported citing data by China Federation of Logistics and Purchasing. Consumption-related logistics demand continued to recover, with the total volume increased by 6.2% y/y, 0.1 percentage points higher than H1. While industrial product logistics remained stable by growing 5.7% y/y, the newspaper said.