PRESS DIGEST-China-Oct 29

SHANGHAI Sun Oct 28, 2012 9:17pm EDT

SHANGHAI Oct 29 (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

-- The 1892 Chinese listed companies that have published their third-quarter earnings have on average seen a 0.55 percent decline in quarterly profit compared with the same period last year.

SECURITIES TIMES

-- China's securities regulator may scrap approvals of mutual funds, potentially shortening the time required to launch a new fund to 20 working days.

-- Hedge fund managers True Arrow and Man Investments have both opened offices in mainland China seeking business opportunities.

CHINA DAILY (www.chinadaily.com.cn)

-- From January to August, prosecutors investigated 12.7 percent more officials for crimes related to their office from a year ago, according to the Supreme People's Procuratorate. Out of them, 75.9 percent were accused of corruption and taking bribes. The remainder were under investigation for dereliction of duty. The worst-hit sectors included engineering, construction, rail and transportation, finance and real estate.

For Hong Kong and South China newspapers see.....

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