China Vows to Relax Some Foreign Investment Curbs: NPC Update

The National People’s Congress, China’s rubber-stamp parliament, kicked off Day 2 on Tuesday in a session that runs until March 20.

Topping the agenda are briefings from the National Development Reform Commission — China’s economic planning body — as well as briefings from the delegations of significant regional economies including Guangdong, Hong Kong and Shanghai.

China’s sovereign wealth fund is preparing for its first overseas bond sale, opening a new channel to raise capital a decade after it was created to manage part of the nation’s foreign exchange reserves. China Investment Corp. is considering the “proper” timing for an offshore bond sale, President Tu Guangshao said in an interview in Beijing Monday.

China to Ease Some Foreign Investment Curbs

China’s NDRC will work with government bodies in 2018 to relax or remove limits for foreign investment in some sectors, NDRC Vice Chairman Ning Jizhe said in Beijing, without naming specific industries. Foreign investors in midwestern and northeastern parts of China will enjoy national preferential policies, he said.

2018 GDP Target Is Achievable, NDRC Chief Says

China aims to keep consumption growth highthrough the service sector, NDRC Chairman He Lifeng said at a briefing in Beijing.

Leverage Ratio of Central SOEs Under Scrutiny

China has started seeking opinions on guidelines to reduce the leverage ratio in central state-owned enterprises and may publish the rules in the first half of 2018, China Securities Journal reported, citing Xiao Yaqing, chairman of the State-owned Assets Supervision and Administration Commission.

Source:BLOOMBERG