PRESS DIGEST - China - Oct 12

BEIJING/SHANGHAI Oct 12 (Reuters) - Chinese newspapers available in Beijing and Shanghai carried the following stories on Monday. Reuters has not checked the stories and does not vouch for their accuracy.

CHINA SECURITIES JOURNAL

-- Chinese television maker Hisense Electric (600060.SS) forecast that its nine-month profit may more than double from a year earlier.

-- Sichuan Tengzhong Heavy Industrial Machinery's General Manager, Yang Yi, said the company had submitted application materials to China's Ministry of Commerce for its purchase of General Motors Co's [GM.UL] Hummer business and that the deal could be closed by the end of this year or early next year, although a ministry official said the application had not yet been received.

SHANGHAI SECURITIES NEWS

-- SAIC Motor Corp (600104.SS), China's biggest automaker and a vehicle manufacturing venture partner of General Motors [GM.UL] and Volkswagen (VOWG.DE), said its September vehicle sales rose 90.7 percent to more than 150,000 vehicles, while nine-month sales were up 47 percent and exceeded the total for all of last year as government incentives bolstered demand.

-- Eighteen Chinese companies newly approved for listing on ChiNext, a Nasdaq-style startup board due to begin operations soon, will start taking subscriptions this week and may attract 1.6 trillion yuan ($234.4 billion) in subscription funds. They plan to raise a total of 41.8 billion yuan through initial public offerings.

FINANCIAL NEWS

-- The Export-Import Bank of China, China Development Bank and Agriculture Bank of China will begin this week to issue bonds worth 45 billion yuan ($6.59 billion).

CHINA DAILY (www.chinadaily.com.cn)

-- A real estate director in Jiangsu province in eastern China, whose luxurious lifestyle was exposed by netizens late last year, was sentenced to 11 years in jail for taking bribes. ($1=6.825 Yuan)