September 18, 2014 / 1:36 AM / 3 years ago

PRESS DIGEST-China - Sept 18

SHANGHAI, Sept 18 (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 needs to speed up the development of futures management institutions to make the futures market more competitive, said Jiang Yang, vice-president of the China Securities Regulatory Committee (CSRC), at a seminar on Wednesday.


- China will launch 12 new stock indexes on Oct. 17, including two indexes measuring the health of 400 and 1,000 Shanghai- and Shenzhen-listed companies respectively, according to an announcement by the China Securities Index Co., Ltd published on Thursday.


- The State Council, China’s cabinet, said at a meeting on Wednesday that from Oct. 1 to the end of 2015, any firm with a monthly revenue of less than 30,000 yuan ($4,887.19) will be exempt from value-added tax (VAT) and business tax.


- China should plan an integrated renminbi clearing facility with the Association of Southeast Asian Nations to encourage regional trade and investment, said Cao Tong, the vice-president of the Export-Import Bank of China on Wednesday.

For Hong Kong and South China newspapers see..... (1 US dollar = 6.1385 Chinese yuan) (Reporting by Shanghai Newsroom; Editing by Prateek Chatterjee)

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