REFILE-UPDATE 1-PRESS DIGEST-China - June 14
(Refiles to add dropped word in last paragraph)
SHANGHAI/BEIJING, June 14 (Reuters) - Chinese newspapers available in Beijing and Shanghai carried the following stories on Thursday. Reuters has not checked the stories and does not vouch for their accuracy.
CHINA SECURITIES JOURNAL
- China's foreign direct investment(FDI) could fall in May on a risk averse mood due to worries over the euro zone crisis and a slowdown in the world's second-biggest economoy.
- Singapore state investment company Temasek Holdings is optimistic about China's long-term development and its capital markets, especially for blue-chip shares, said Ding Wei, head of Temasek's China operations. The company has applied for new investment quotas under China's Qualified Foreign Institutional Investor (QFII) program.
SHANGHAI SECURITIES NEWS
- The Shenzhen Stock Exchange has created an incentive fund to encourage brokerages to help small- and medium-sized companies from China's less developed western region list on the stock market.
- Combined sales revenue for the 15 real estate developers that have so far reported figures for May totalled 76 billion yuan ($11.93 billion), up 23 percent over April, in a sign that China's struggling real estate market is gradually recovering.
- The China Securities Association issued draft rules to brokerages that aim to crack down on corruption in the IPO pricing system that occurs when putatively independent participants in the price-setting process report inflated prices as a favour to underwriters.
- Bank of China , the country's biggest foreign exchange lender, and Bank of Communications, China's fifth-largest bank, have got Taiwanese regulatory approvals to open branches in Taipei.
CHINA DAILY (www.chinadaily.com.cn)
- China will relax bank lending to local government financing vehicles and the property sector, said an unnamed official at the China Banking Regulatory Commission, the industry watchdog.
- China's key power generators had coal inventories of 93 million tonnes as of June 10, representing a record high which is enough for 28 days use.
For Hong Kong and South China newspapers see..... ($1 = 6.3691 Chinese yuan) (Reporting by Beijing and Shanghai Newsrooms; Editing by Anand Basu)
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