PRESS DIGEST - China - March 17
SHANGHAI, March 17
SHANGHAI, March 17 (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 SECURITIES JOURNAL
-- A poll by the People's Bank of China showed that 74.4 percent of residents believe housing prices are overly high and unacceptable. Some 66.1 percent of bankers expect China's monetary policy to tighten further in the second quarter.
-- Half of China's polysilicon consumption will still rely on imports, but the supply shortage will improve and self-sufficiency is expected to be achieved in two or three years, Wang Sicheng, a researcher of the energy branch of the National Development and Reform Commission was quoted as saying.
SHANGHAI SECURITIES NEWS
-- The China Banking Regulatory Commission (CBRC) will accelerate the implementation of a series of new Basel III banking regulations over the next five years to transform and improve the sector's risk management capabilities, said the commission's Chairman Liu Mingkang.
-- The CBRC plans to introduce four new monitoring tools to assess the performance of its commercial banks, including capital adequacy ratio, dynamic positioning requirement, leverage and liquidity ratio, the paper said.
-- China's National Development and Reform Commission and Ministry of Housing and Urban-Rural Development plan to inject 35 billion yuan ($5.33 billion) in building lower-cost homes in 2011.
-- Major Chinese ship builder China Shipping Development Co Ltd (600026.SS) (1138.HK) forecast its net profit rose 27.9 percent in 2010 from 2009, and its freight traffic turnover rose 21.7 percent.
-- Most superstores in Shanghai have suspended selling meat products made by Shuanghui Group, China's biggest meat processor, after an illegal drug was reportedly used to produce lean meat.
-- China launced its first overseas study deposit scheme to ensure students' commissions are paid off should an agency cheat them or shut down business.