CHINA RATES: MNI: China Repo Rates Diverge On Wednesday
The seven-day deposit reverse repo average across China's interbank market was at 1.8253% on Wednesday, lower than the close of 1.8470% on Tuesday, according to Wind Information. The overnight deposit reverse repo average was last at 1.7708%, higher than the previous 1.7639%.
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MNI EXCLUSIVE: The Weak Yen Could Strengthen Inflation Faster
BOJ officials believe the weak yen could strengthen inflation faster than expected --On MNI Policy MainWire now, for more details please contact sales@marketnews.com.
CHINA PRESS: China To Facilitate Foreign Investment In Domestic Tech Firms
China’s commerce ministry and nine other departments have jointly released 16 measures to facilitate and encourage foreign institutions to invest in domestic technology enterprises, Shanghai Securities News reported. Applications for qualified foreign institutional investor (QFII) and RMB qualified foreign institutional investor (RQFII) will be reviewed and approved efficiently. Authorities will continue to improve forex management under direct investment and better support foreign investors’ equity investments especially via the Qualified Foreign Limited Partner (QFLP) scheme.
CHINA PRESS: Environmental Tax Important For Fiscal Reforms - Expert
Beijing can introduce a local resource and environmental protection tax to provide a stable source of revenue should fiscal reforms happen, according to Jia Junxue, director at the China Fiscal Society and professor at Renmin University. However, policymaker reforms may not be as beneficial compared to the tax-sharing changes of 1994, due to the maturity of today's system. Local governments see revenue and expenditure weakening, indicating a problem with fiscal stability, said Yin Heng, professor at the National Institute of Development Strategy of Renmin University.
