PRESS DIGEST - China - March 18
SHANGHAI, March 18
SHANGHAI, March 18 (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.
-- A commentary says remarks made by a new generation of Chinese leaders elected in the annual session of China's parliament, the National People's Congress, ended on Sunday and signal a focus in ruling the country by laws and respect of the people.
CHINA SECURITIES JOURNAL
-- The Bank of China Ltd said its chairman Xiao Gang had resigned to take over another financial leadership role. Earlier, news reports said Xiao, 54, had been appointed head of the China Securities Regulatory Commission (CSRC).
-- The Shanghai Stock Exchange will permit T+0 trading in bond exchange traded funds (ETFs) starting on Monday, paving the way for a resumption of a comprehensive T+0 trading system, in which investors can buy and sell securities on the same day. China suspended the system in 1995 to curb rampant speculation.
SHANGHAI SECURITIES NEWS
-- Under new rules, the CSRC will allow qualified securities brokerages to let staff hold options to boost their performance. It will also allow mutual funds to use third-party over-the-counter platforms to sell their products.
-- Commercial property and office building sales in China's capital, Beijing, surged 320.5 percent in the first 10 days of March, in response to the government's new measures to cool down the real estate sector.
For Hong Kong and South China newspapers see.....