MNI China Press Digest Feb 5: Sino-U.S., PBOC, Housing

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

• Chinese President Xi Jinping said on Wednesday that he hopes to work with U.S. President Donald Trump this year to stabilise relations and accomplish more significant issues together, Xinhua News Agency reported following a phone call between the two heads of state. The two sides should follow the common understandings already reached, enhance dialogue and communication, manage differences properly, and expand practical cooperation, Xi said, adding that both sides should make progress step by step to build mutual trust and find the right way to get along.
• The People’s Bank of China will strengthen coordination with fiscal policy to enhance financial support for the consumption sector, developing science and technology, green, inclusive, pension, and digital finance, China Securities Journal reported citing a meeting on the credit market. The Bank will build a multi-tiered financial service system to focus on supporting key areas such as expanding domestic demand, technological innovation, and small and medium-sized enterprises.
• Policy support and rising asset prices are bolstering confidence in the housing market, said 21st Century Business Herald in an editorial on Thursday. The secondhand housing market in many key cities saw increased transaction volume in January the traditionally slow season, and a continued decline in the number of listings for sale. Such structural recovery could help boost overall confidence gradually, amid favourable policy, ample liquidity, and a wealth effect generated by A-share, gold and silver price rises, the newspaper said. Current price levels of secondhand homes have reached the psychological threshold of many first-time homebuyers, and a new equilibrium will be reached after the persistent selling pressure eases, the newspaper said.