MNI China Press Digest May 7: Sino-U.S., Growth, Liquidity

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

• China's Vice Premier He Lifeng will act as chief trade negotiator when talks begin with U.S. Treasury Secretary Scott Bessent during his visit to Switzerland over May 9-12, according to a statement on the Ministry of Commerce website Wednesday. The ministry stressed the importance of mutual respect and benefit during the negotiation, noting Beijing would not sacrifice fairness and justice to reach agreement.
• China will adopt more proactive macroeconomic policies and is confident of achieving its economic growth target of around 5% for 2025, said Finance Minister Lan Fo’an during the 58th Annual Meeting of the Board of Governors of the Asian Development Bank. China will continue to build a unified domestic market, expand high-level opening-up and share China's development opportunities, and dividends with the world, especially Asia-Pacific countries, said Lan. (Source: Securities Times)
• Analysts expect looser market liquidity in May, as authorities step up efforts to expand domestic demand, which will fully offset softer liquidity as government bond issuance peaks, Securities Daily reported. The People’s Bank of China will likely cut the reserve requirement ratio by 0.5 percentage points this month, releasing about CNY1 trillion of long-term liquidity, along with an interest rate cut of 0.3 percentage points to drive down rates of corporate and household borrowing, the newspaper said citing Wang Qing, analyst with Golden Credit Rating.