PRESS DIGEST - Hong Kong - March 16

HONG KONG, March 16 (Reuters) - These are some of the leading stories in Hong Kong newspapers on Tuesday. Reuters has not verified these stories and does not vouch for their accuracy.

SOUTH CHINA MORNING POST

-- The world's largest business-to-business e-commerce service provider Alibaba.com (1688.HK) has set up a fund to cover fraud disputes between mainland suppliers and their buyers, aiming to build a platform where buyers and sellers can do business with confidence, according to John Spelich, vice president for international corporate affairs at Alibaba Group.

-- China sportswear brand Flyke International Holdings and car dealer Zhongsheng Group Holdings are set to brave the quiet retail market for initial public offerings in Hong Kong, looking to raise a combined HK$4 billion ($515.5 million).

HONG KONG ECONOMIC JOURNAL

-- Anhui Conch Venture Investment Co Ltd, the third largest shareholder of Anhui Conch (0914.HK), is seen to be the successful bidder for Fu Ji Catering (1175.HK), which is under a winding up petition, for HK$600 million ($77.3 million), according to sources.

-- HSBC (0005.HK) (HSBA.L) has taken the lead and standardised its lending rate for yuan loans to finance trade at 3.88 percent, with reference to market conditions and the lending rates of the central bank.

HONG KONG ECONOMIC TIMES

-- New World Department Store (0825.HK) said its net profit for the six months ended December 31 rose 5.2 percent to HK$272 million. The company plans to open new stores in Beijing and Shanghai this year.

MING PAO DAILY NEWS

-- Chinese developer Sino-Ocean Land (3377.HK) said it had successfully bid for a residential site in Beijing for 4.08 billion yuan ($597.8 million).

SING TAO DAILY

-- Aiming at cooling the property market, the Hong Kong government announced it would offer all 4,000 remaining flats under the Home Ownership Scheme on the market as early as in June, and had decided to sell the remaining 374 sandwich-class homes it holds immediately.

APPLE DAILY

-- Chinese property developer Shanghai Forte Land Co Ltd 2337.HK said its net profit for the year ended in December 2009 amounted to 497 million yuan ($72.82 million), up 389 percent from the year ago period.

WEN WEI PO

-- Chinese property tycoon Wang Zheng, Asia Television's (ATV) new majority stakeholder, said he aimed to develop ATV as Asia's CNN and as a terrestrial broadcaster with a Putonghua channel carried nationwide.

-- China Life Insurance Co (2628.HK) (601628.SS), the world's biggest life insurer by market value, said its premiums in January and February totalled 77.4 billion yuan ($11.34 billion), up 15.18 percent from a year earlier.

For Chinese newspapers, see...............[PRESS/CN]

For Taiwan newspapers, see............[PRESS/TW] (Reporting by Twinnie Siu; Editing by Jonathan Hopfner)