PRESS DIGEST-China - June 27

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 has made "real progress" in its study into letting the country's social insurance housing fund invest in the capital markets, the paper said, citing a China Securities Regulatory Commission official.

- The government may need to come out with more policies to support exports and domestic consumption, and may loosen monetary policy again to help maintain steady economic growth.

SHANGHAI SECURITIES NEWS

- A draft amendment to the Securities Investment Law submitted on Tuesday to the National People's Congress would bring private equity funds under legal regulation, paving the way for more order and transparency in the sector.

FINANCIAL NEWS

- China and Ukraine signed a currency swap contract worth 15 billion yuan.

- Premium income for domestic insurers rose 4.59 percent on year in the first five months, driven largely by the growth of premiums of property insurance, which rose 14.6 percent on year while life insurance premiums grew only 0.66 percent in the same period.

CHINA DAILY (www.chinadaily.com.cn)

- President Hu Jintao talked to the three astronauts in the orbiting Tiangong-1 space lab module, who have spent 10 days in space, and praised their excellent performance.

- The country's top legislature is debating a proposal to modify the Securities Investment Fund Law, which would place both privately raised money and the companies that manage such money under legal supervision to curb illegal fundraising.

PEOPLE'S DAILY

- China's weather bureau warned more rainstorm, which has swollen major rivers in the area, in several provinces including Jiangxi, Hunan and Guangdong.

- China sets up the national art fund with an initial 2 billion yuan offered by the finance ministry. The fund will support domestic literary and artistic work.

For Hong Kong and South China newspapers see.....

(Reporting By Beijing and Shanghai Newsrooms; Editing by Jijo Jacob)