SHANGHAI/BEIJING, June 28 |
SHANGHAI/BEIJING, June 28 (Reuters) - Chinese newspapers available in Beijing and Shanghai carried the following stories on Th ursday. Reuters has not checked the stories and does not vouch for their accuracy.
CHINA SECURITIES JOURNAL
- Fifteen Chinese city commercial banks - small-sized banks whose main business is based in one city or region - have applied to list on the stock market in an effort to raise capital to build a national footprint and compete with larger rivals.
- In a front-page editorial, the paper argues that China's central government should take further steps to support the development of Hong Kong as the global centre for offshore yuan business, drawing comparisons with the development of the Eurodollar market.
SHANGHAI SECURITIES NEWS
- China's Ministry of Industry and Information Technology has outlined eight areas where the private sector can enter into telecommunications industry, a sector highly dominated by the state. These include allowing private investors to participate in the building of telecommunications infrastructure, and buy up shares in existing telecommunications providers.
CHINA BUSINESS NEWS
- Responding to rampant internet rumors of a new policy allowing banks in Henan to offer mortgage loans to first-time home buyers at a discount of 30 percent to the benchmark rate, the Henan province Banking Regulatory Office says the rumored document is only an internal draft for internal consideration and has not been put into effect.
PEOPLE'S DAILY
- Premier Wen Jiabao told overseas Chinese businessmen in Chile that China has proposed a free-trade zone with Latin American countries, but it is not a easy thing and China will work to maintain a balanced and lasting trade volume with these countries, which have hoped to export more high value finished products rather than raw materials.
- The Ministry of Information and Industry issued guidance to encourage private investment in eight sectors, including telecommunication and internet services among others
CHINA DAILY (www.chinadaily.com.cn)
- Lawmakers have suggested distributing more tax revenues to local governments to meet increasing city construction and public welfare, a move that would reduce their heavy reliance on land sales for revenue.
- Local officials are being encouraged to undergo special training to better prepare them to deal with mass incidents after two clashes broke out in Guangdong province, bordering Hong Kong. On Monday, 300 migrant workers in Longshan village gathered after a 15-year-old boy was injured by local residents while officials of Foshan's Zuotan village were kidnapped by a group of villagers for unreported reasons.
For Hong Kong and South China newspapers see..... (Reporting by Beijing and Shanghai Newsrooms; Editing by Kim Coghill)
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