PRESS DIGEST - China - April 12
SHANGHAI, April 12
SHANGHAI, April 12 (Reuters) - Chinese newspapers available in Beijing and Shanghai carried the following stories on Friday. Reuters has not checked the stories and does not vouch for their accuracy.
CHINA SECURITIES JOURNAL
- China's railway investment reached 54.5 billion yuan ($8.80 billion) in the first quarter of 2013, up 28 percent from a year earlier, as construction activities accelerated. According to the national plan, China will invest 520 billion yuan in railway infrastructure this year and 5,200 km of new lines will be put into use.
SHANGHAI SECURITIES NEWS
- Central Huijin, a unit of China's sovereign wealth fund China Investment Corp, has spent about 200 million yuan ($32.28 million) this year to raise its stakes in major state-owned banks Industrial and Commercial Bank of China , Bank of China and Agricultural Bank of China. Huijin has completed the fourth round of share purchases in four major state-owned banks on April 9 and has not said whether it will launch a new round.
- The inventory of quality office space in 14 major Chinese cities may surge 80 percent within the next four years and some second-tier cities may suffer from an oversupply, according to research by real estate services provider CB Richard Ellis.
- China's ocean watchdog has vowed to ban offshore projects that cause marine pollution. Xu Guodong, deputy director of the environmental protection department of the State Oceanic Administration, said developers of offshore projects must hand in a marine environment influence report and if the report does not pass evaluation, the project would be blocked.
- Due to a severe drought in Yunnan, the Agricultural Bank of China said it will increase loans to the farm sector to combat drought and support spring ploughing in the province.
For Hong Kong and South China newspapers see.....
DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.