PRESS DIGEST - Top stories in Hong Kong and mainland China newspapers on July 2
These are the leading stories in Hong Kong and mainland Chinese newspapers and websites on Thursday. The South China Morning Post has not verified these stories.
Bank of Jiansu has received regulatory approval for a mainland listing from the China Securities Regulatory Commission, but the fund-raising process will not start immediately. (Shanghai Securities News)
The People’s Bank of China has unveiled proactive measures to lower the overall cost of borrowing in the interbank bank in a move to boost medium term liquidity. The interest rate at medium-term lending facilities (MLF) has dropped to 3.35 per cent by the end of June, down from 3.5 per cent in early June. (Securities Times)
The latest policy relaxation from the China Securities Regulatory Commission aims to boost investors confidence and calm down on the jittery sentiment in the stock market. (Securities Times)
China’s official Purchasing Managers’ Index showed a reading of 50.2 in June, steady from the previous month and would need a further boost from policymakers. (Securities Times)
