PRESS DIGEST - China - Jan 7
Jan 7 (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
-- More than 90 percent of Chinese fund managers recently polled by this newspaper forecast that China's stock market will stage a rebound this year. The market was generally weak over the past few years due in part to a slowdown of the world's second-largest economy.
-- China may not resume initial public offerings (IPOs) of shares in the first quarter of this year as firms which intend to float shares will be asked to add information on their 2012 annual results. IPOs were suspended in November due to the weak domestic stock market.
-- Top Chinese steel maker Baoshan Iron & Steel Co said it had so far bought back 1.92 billion yuan ($308 million) of its own shares in response to a regulatory call last year for listed companies to buy back their own shares to support the stock market.
-- Livzon Pharmaceutical Group Inc said trading in its shares will be suspended starting Monday pending a major announcement. Analysts said the company may be planning to convert its Shenzhen-listed B-shares into Hong Kong-listed H-shares.
-- With the majority of private enterprises in China faced with passing on the family business to the second generation, young entrepreneurs are facing a huge challenge in taking over family brands and presenting them to the world.
-- A commentary urges government departments to stop sending gifts to each other during the Chinese lunar new year in mid-February to help fight against official corruption.
For Hong Kong and South China newspapers see.....