PRESS DIGEST - China - Feb 4

SHANGHAI Sun Feb 3, 2013 7:51pm EST

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SHANGHAI Feb 4 (Reuters) - Chinese newspapers available in Beijing and Shanghai carried the following stories on Monday. Reuters has not checked these stories and does not vouch for their accuracy.

PEOPLE'S DAILY

-- A commentary urges government departments to stop using public money during the Chinese lunar new year, which falls on Feb. 10 this year, as part of a government campaign to fight official corruption.

SHANGHAI SECURITIES NEWS

-- The recent lingering pollution in Beijing and some other northern cities is expected to force Chinese refineries to upgrade the quality of fuel and gasoline.

-- The government campaign to fight official corruption has caused share prices of alcohol producers to drop in recent weeks. Alcohol is widely used in public entertainment in China, and investors believe the campaign will reduce consumption of alcohol and thus weaken earnings of producers.

CHINA SECURITIES JOURNAL

-- As China's stock market has staged a strong rally since early December, the ratio of stock holdings by domestic mutual funds has now reached a high level of 89.53 percent among all their securities holdings.

-- A commentary says China needs to expand overseas investment to make better use of its big foreign trade surplus.

CHINA DAILY (www.chinadaily.com.cn)

-- An increasing number of Chinese people are realising the value of Internet domain names. Those who manage to buy good names can make a lot of money. By the end of 2012, China had 13.4 million domain names registered in the country, a 73.1 percent increase from a year earlier.

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

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