March 6, 2017 / 12:19 AM / 3 years ago

China Stocks-Factors to watch on Monday


* SSEC -0.4 pct, CSI300 -0.2 pct, HSI -0.7 pct

* CNY official close 6.899 per dollar

* FTSE China A50 -0.2 pct, BNY Mellon ADR China Select Index +0.7 pct

SHANGHAI, March 6 (Reuters) - Following is a list of recent corporate and policy announcements, as well as other news that might affect Chinese financial markets. Policy, government, sector news:

* China has cut its growth target this year as the world’s second-largest economy pushes through painful reforms to address a rapid build-up in debt.

* China pledged more support for its military on Sunday including strengthening maritime and air defences as it takes steps to safeguard its sovereignty.

* China’s insurance regulator is considering an industry shake-up that could see the biggest and most solvent firms resuming an overseas expansion.

* Chinese cities under pressure from soaring home prices need to boost land supply appropriately, Premier Li Keqiang says.

* China will cut steel capacity by 50 million tonnes and coal output by more than 150 million tonnes this year.

* China sets budget deficit target of 3 percent of GDP for 2017, pledges clamp down on local government debt risk.

* Fixed-asset investment in China is set to rise about 9 percent in 2017, state planning agency says.

* China says has no plans to implement a nationwide property tax this year.

* China’s central bank does not need to raise interest rates or cut reserve requirement ratios (RRR) for the time being - vice central bank governor. Company moves:

In focus

* Chinese electronics maker LeEco has no plans to exit operations in India.

* Beijing Capital plans share issue to fund projects, share trade to resume


* GD Power Development’s 2016 preliminary net profit up 6.6 pct

* China Vanke says Feb contract sales at 38.5 billion yuan ($5.59 billion), Jan-Feb contract sales at 86.6 billion yuan

* Harbin Pharma’s 2016 net profit rises 35.9 percent y/y M&A

* Jiangsu Youli Investment acquires a Tianjin company for 900 mln yuan Regulation

* Regulator to halt review of Shenzhen Worldunion Properties’ share private placement Other moves (spin-offs, divestitures, deals)

* Chinese agribusiness group New Hope plans to build its first soybean crushing plant in China’s Hebei province in a joint venture with Cargill CARG.UL, its chairman Liu Yonghao said on Saturday. (Compiled by Samuel Shen)

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