MNI China Press Digest Nov 13: Economy, Nexperia, Panda Bond

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

• Industrial output is expected to slow to 5.7% y/y in October from September’s 6.5%, as Oct manufacturing PMI fell again after rising for two consecutive months, according to economists surveyed by Yicai.com. The average forecast for Oct retail sales is 2.7% y/y, lower than the 3% figure released last month, tamed by the higher comparison base for the same period last year when the government introduced consumer goods trade-in policy. Meanwhile, fixed-asset investment for the first 10 months may decline further by 0.8% from the previous 0.5% fall, as the government’s "anti-involution" campaign has led to a temporary halt in capacity expansion in some industries. The National Bureau of Statistics is set to release the latest data on Friday.
• China hopes Germany will play a positive role in urging the Dutch government to revoke its seizure of chipmaker Nexperia, Chinese ​Commerce Minister Wang Wentao said on Tuesday during a call with his German counterpart, according to a statement on the Ministry of Commerce website. Wang said China has made its utmost efforts by granting exemptions for eligible exports, which has helped ease supply chain pressure in the short term, but ensuring the long-term stability of the global semiconductor supply chain requires the Netherlands to demonstrate a constructive attitude and take concrete steps. German Federal Minister for Economic Affairs and Energy Katherina Reiche said Germany is following the Nexperia issue closely and will continue to enhance communication with the Netherlands, according to the release. 
• The Panda bond market has expanded rapidly with the cumulative issuance exceeding CNY1 trillion by the end of July, marking a significant milestone in the opening up of China's bond market, Securities Daily reported. As of Nov 12, 104 Panda bonds have been issued this year, with a total issuance scale of CNY162.6 billion, the newspaper said. Authorities need to promote the transformation of the Panda bond market from "scale expansion" to "quality improvement" continuously, focusing on innovating products and improving market transparency and efficiency, the newspaper said citing analysts.