MNI China Press Digest April 11: Property, U.S. Films, CPI

Highlights from Chinese press reports on Friday:

• More cities will promote home purchase subsidies to stimulate demand, Securities Times reported, citing expectations from Chen Wenjing, research director of China Index Academy. Yiwu city recently subsidised first-time home buyers and families with multiple children, while Hohhot city offered up to CNY50,000 to first-time buyers of newly built residential properties across four districts, the newspaper said. The market expects additional support measures in April, often a policy window period, with lower mortgage rates and further a relaxation of residential purchase limits, the newspaper said.
• Washington’s imposition of tariffs against China will inevitably reduce the domestic audience’s appetite for U.S. movies, according to a spokesperson for the National Film Administration, adding that authorities will respect movie-goers' choices by moderately reducing the number of imported American films. Statistics from the State Film Administration showed box office receipts totalled CNY42.5 billion in 2024, of which domestic films accounted for 78.7%. As the second largest market in the world, China will introduce more global movies to meet market demand going forwards, the spokesperson continued. (Source: Yicai)
• China’s CPI contracted 0.1% y/y in March, narrowing from the -0.7% in February, mainly driven by base effects, according to Feng Lin, executive director at Orient Securities. Price levels in April are expected to remain unchanged y/y given recent trends, Feng added. Minsheng Bank Chief Economist Wen Bin, said in the next stage, price levels are expected to rise moderately with the gradual implementation of more proactive macroeconomic measures leading to a steady expansion of domestic demand. (Source: Securities Daily)