MNI China Press Digest May 20: U.S., Infrastructure, Exports

Highlights from Chinese press reports on Tuesday:

• Beijing has called on Washington to cease discriminatory measures and honour the Geneva consensus, according to a spokesperson for the Ministry of Commerce, following a U.S. industry warning against using Chinese semiconductors, including Huawei. Should the U.S. continue along this path, China will take firm and necessary measures to safeguard its legitimate rights and interests, the spokesperson stated. (Source: MOFCOM website)
• China’s infrastructure investment rose by 5.8% y/y from January to April, supported by the acceleration in issuance of local government special bonds earmarked for project development, according to Wang Qing, Chief Macro Analyst at Oriental Jincheng. Wang noted that, since the beginning of the year, medium- and long-term corporate lending for infrastructure projects has sustained robust growth. Meanwhile, local governments have regained momentum in project spending, aided by an easing of fiscal pressures following the debt relief programme. (Source: Yicai)
• Chinese exporters are rushing to ship orders to the U.S. during the 90-day tariff reprieve, 21st Century Business Herald reports. Following the Geneva announcement, spot rates from Shanghai to Los Angeles rose 16% to USD3,136 per 40-foot container, according to Drewry, a shipping consulting firm. Meanwhile, ports are expanding networks, with Xiamen Port adding Southeast Asia routes in 2025 and Guangzhou Port operating 222 liner routes, including 152 to Belt and Road markets.