MNI China Press Digest March 11: Trade, A-share, SSE

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

• China’s rapid trade growth in the first two months was supported by improved global demand, the country’s industrial competitiveness and a low comparison base over the same period of last year, said Zhang Jianping, deputy director of the Academic Committee at the Chinese Academy of International Trade and Economic Cooperation. The global market has effectively absorbed the adverse effects of trade frictions, with overall expectations staying positive, said Zhang. Exports and imports rose 19.2% and 17.1% y/y in yuan terms, with private enterprises performing exceptionally well. (Source: Securities Times)
• The A-share market will likely trend upward despite significant fluctuations in the oil and gas sector, supported by recovering investor sentiment and increased market resilience, according to an article published on Yicai.com by Qin Huanmei, a researcher at the Institute of Chinese Modernization at Shanghai University of Finance and Economics. Authorities should strengthen support for the listing of hard technology companies and enrich the index system of the Science and Technology Innovation Board. It is also necessary to improve the information disclosure system, enhance regulatory transparency, refine the stock pricing mechanism and promote mergers and acquisitions to strengthen market resilience, the article said.
• The Shanghai Stock Exchange said it will continue to deepen capital market reform by increasing the proportion of direct and equity financing, and promoting the value growth and governance improvement of listed companies, Yicai.com reported. SSE will further expand the scale of industrial bonds and develop innovative products that serve national strategies. It will also improve incentive and constraint mechanisms for corporate governance, guide companies to strengthen dividends and share buybacks, and support listed companies to enhance their core competitiveness through mergers and acquisitions.