June 5, 2012 / 1:27 AM / 6 years ago

PRESS DIGEST - China - June 5

Chinese newspapers available in Beijing and Shanghai carried the following stories on Tuesday. Reuters has not checked the stories and does not vouch for their accuracy.


- China Southern Airlines Co Ltd , the country’s largest airline by fleet size, will start to suspend trading of its Shanghai shares from Tuesday and resume trading within five working days as its state-owned parent considers an infusion of money to lower its debt.


- China has no timeline yet for launching an international board at the Shanghai Stock Exchange, the newspaper reported, citing a source within the exchange.

- More than 20 small- and medium-sized firms in Wenzhou have showed an interest in issuing private bonds, Zhou Dewen, an official with the local trade promotion commission, was quoted as saying.


- China has strengthened its position as the largest creditor of Japan by increasing its holdings of Japanese government bonds by 71 percent by end-2011 from a year earlier.


- China’s ministry of labour and social welfare said total social insurance funds by the end of 2011 reached more than 2.4 trillion yuan, a rise of 27.7 percent on year.

- China’s top planning body has accelerated approval of investment projects, with 100 projects approved within one day, which indicates government authorities are keen to boost investment in pursuit of steady economic growth.

CHINA DAILY (www.chinadaily.com.cn)

- China’s banking regulator has noticed a contradiction between a surge in some categories of problematic loans and a decline in non-performing loan ratios over the past few months, and is taking a closer look at lenders’ loan classification, said a senior official.

- All the contacts of a 2-year-old boy who tested positive for the H5N1 strain of avian influenza in Hong Kong and the Chinese mainland were either asymptomatic or tested negative for bird flu, authorities said, suggesting the chance of an outbreak was slim.


- Russian President Vladimir Putin begins his 3-day visit to China on Tuesday.

- China will subsidise buyers of energy-saving home appliances for one year as part of efforts to boost domestic consumption. Buyers of solar energy heaters can enjoy subsidies of as much as 500 yuan ($78.56).

- China is expecting a power shortage of 35 million KWH during summer, partly due to a shortage of coal.

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

$1 = 6.3645 yuan Compiled by Beijing and Shanghai Newsrooms; Editing by Sunil Nair

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