May 14, 2015 / 1:26 AM / 2 years ago

PRESS DIGEST- China - May 14

May 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

- State Grid Corp of China will invest a total of 450 billion yuan ($72.53 billion) on ultra-high voltage power development, the paper said, citing the company.

- Dalian Wanda Commercial Properties Co Ltd and China Vanke Co Ltd will form a strategic partnership to develop the country’s real estate sector, the paper said, citing sources close to the issue.

SECURITIES TIMES

- Changjiang Securities Co Ltd will resume trading from Thursday, and it plans to raise a total of no more than 12 billion yuan for further expansion, the company said in a statement.

SHANGHAI SECURITIES NEWS

- Work to build up China’s internet infrastructure could spur over 100 billion yuan ($16.12 billion) of investment this year, the official paper said referring to a statement from China’s cabinet. The State Council said on Wednesday that telecoms firms should boost broad speeds by 40 percent.

CHINA DAILY

- China will launch up to four satellites for its global navigation and positioning network Beidou this year, the chief designer of the system said on Wednesday. China aims to have full global coverage by 2020.

SHANGHAI DAILY

- Shanghai’s car auction house has banned the use of high-tech software for biding on car license plates following concerns that the technology was giving some buyers an unfair advantage. China limits car numbers through regular license plate auctions.

For Hong Kong and South China newspapers see..... ($1 = 6.2043 Chinese yuan) (Compiled by Shanghai Newsroom; Editing by Anand Basu)

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