China

China morning round-up: Reserve ratio cut discussed

A teller counts Chinese yuan notes
Image caption China had been increasing banks' reserve rates to try and tackle rising prices

Major newspapers across China have been leading their coverage with the central bank's decision to cut the bank reserve ratio - the amount of cash that banks have to hold in reserve - from a record high.

People's Bank of China said it would reduce the reserve limit from its record high of 21.5% to 21% on 5 December, the first time since December 2008 that the reserve ratio is lowered, reports the China Daily.

Shanghai's China Business News says the move has been made much earlier than the most aggressive economists had expected, while People's Daily says it is a direct result of tight liquidity in the banking system.

The lower the ratio, the more money banks can lend to individuals and businesses, which in theory encourages investments and consumption.

Another focus of the day has been the decision by the National Development and Reform Commission (NDRC) to raise prices for industrial power and thermal coal.

However, papers including Chengdu's West China City Daily say that residential power price will not be raised for now.

World Aids Day has also been marked by the Chinese media. There will be 780,000 people living with HIV and Aids by the end of this year, says the Global Times.

People's Daily's overseas edition reports on the difficulties faced by non-government organisations (NGOs) that are promoting Aids prevention, while the domestic edition runs a feature from India which suggests that India still has the highest number of people with HIV and Aids in Asia.

China Daily reports that traditional Chinese medicine has helped 17,000 HIV carriers and Aids patients in China since 2004, while Guangzhou's Southern Metropolis Daily says Lei Yulan, a deputy governor for Guangdong province, has vowed to punish hospitals that refuse to treat people with Aids.

Recent reports from India have suggest that border-dispute talks between China and India will be postponed, as Beijing is angry with a recent speech made by the Dalai Lama in India. But Global Times now reports that officials from both sides have agreed to proceed with another defence conference on 9 December.

Another report from China Daily says Shanghai-based China Eastern Airlines has pledged to improve their pilots' English language skills, amid investigations into claims that one of its planes took off in Osaka, Japan on Monday without clearance from air-traffic control.

The deadly fire in Mongkok, Hong Kong on Wednesday has also received much attention across China. Hong Kong's Ming Pao Daily News reports that all the nine victims were living in the same "cubicle apartments"

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