PRESS DIGEST - China - April 7

BEIJING/SHANGHAI, April 7 (Reuters) - Chinese newspapers available in Beijing and Shanghai carried the following stories on Wednesday. Reuters has not checked the stories and does not vouch for their accuracy.

SHANGHAI SECURITIES NEWS

-- China Vanke 000002.SZ, China's biggest-listed developer, said property sales value in March rose 2.8 percent to 6.3 billion yuan ($923.1 million), even as sales area fell 30 percent from a year earlier.

-- Japan's Mitsui Sumitomo Insurance Co has bought a 7 percent stake in Chinese insurer Sinatay Life Insurance Co Ltd for 127 million yuan.

-- China's mutual funds raised their equity holdings to 81.36 percent on average as of April 1, up 4.89 percentage points from March 25, reflecting their optimism toward market prospects.

-- Chinese home appliance maker Sichuan Changhong Electric Co Ltd (600839.SS) said 2009 net profit more than tripled to 27.2 billion yuan on booming sales.

SECURITIES TIMES

-- Chinese brokerage Guoyuan Securities 000728.SZ plans to buy all shares in Minmetals Futures Co Ltd from China Minmetals Corp for 202 million yuan.

-- Shanghai Pudong Development Bank (600000.SS), part owned by Citigroup (C.N> posted a 5.6 percent rise in 2009 net profit to 13.22 billion yuan.

-- About 4,300 accounts have been opened so far for trading stock index futures, while institutional investors account for 2 percent of the total. ($1=6.825 Yuan)