UPDATE 1-PRESS DIGEST - China - Oct 24

Thu Oct 23, 2008 10:02pm EDT

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BEIJING/SHANGHAI Oct 24 (Reuters) - Chinese newspapers available in Beijing and Shanghai carried the following stories on Friday. Reuters has not checked the stories and does not vouch for their accuracy.

SHANGHAI SECURITIES NEWS

-- Chen Daofu, a researcher at a think-tank affiliated with China's State Council, or cabinet, said China had plenty of room for policy manoeuvre to deal with the global financial crisis.

-- China Southern Locomotive (601766.SS) has won a contract worth nearly $100 million from Kazakhstan, its third contract since entering that country's market in 2002, the paper quoted unnamed source as saying.

CHINA SECURITIES JOURNAL

-- The global financial crisis and recession fears have hit small privately owned ship builders in China's coastal provinces of Zhejiang, Guangdong and Shandong. The industry is facing consolidation.

-- Unirule Institute of Economics, an independent think-tank based in Beijing, forecast China's fourth-quarter GDP at 9 percent and CPI growth at 4.5 percent. China's economic growth has already entered a downward path, it said.

CHINA BUSINESS NEWS

-- China National Petroleum Corp (CNPC) plans to boost natural gas output to 70 billion cubic metres by 2010, compared with last year's 54 billion cubic metres, to meet the country's fast-growing demand for natural gas.

CHINA DAILY (www.chinadaily.com.cn)

-- China and Denmark discussed cooperation on climate change issues during a meeting in Beijing. Danish Prime Minister Anders Fogh Rasmussen said the current global economic crisis should not be a cause for delaying action on climate change.

PEOPLE'S DAILY

-- Chinese Premier Wen Jiabao said China and Germany should consistently view and handle bilateral relations from a strategic and long-term angle, during a meeting with German Chancellor Angela Merkel in Beijing. (Compiled by Beijing and Shanghai Newsrooms; Editing by Edmund Klamann)

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