PRESS DIGEST - China - June 13
SHANGHAI, June 13
SHANGHAI, June 13 (Reuters) - Chinese newspapers available in Beijing and Shanghai carried the following stories on Thursday. Reuters has not checked the stories and does not vouch for their accuracy.
SHANGHAI SECURITIES NEWS
-- A slew of weak data for May issued earlier this month indicates that China's economic recovery is much slower than the market had previously expected, analysts said.
-- China's A-shares, denominated in Chinese yuan, may be included in MSCI's emerging equity index if the government loosens investment curbs, the company that manages the index said in a report.
-- Despite the weak data for May, analysts expect the People's Bank of China, the central bank, will stick to its neutral monetary policy for now.
-- Dagong Global Credit Rating Co, China's top rating agency, will kick off its European business on Thursday to become the first Chinese rating firm to register and operate in Europe.
CHINA SECURITIES JOURNAL
-- China had issued 3.5 billion bank credit and debit cards by the end of 2012, the latest official data shows.
-- China's mutual funds have reduced their stock holdings to 80 percent of their total by the end of last week, down from 83.34 percent a week earlier, due to the weak domestic stock market.
- A series of economic data released over the weekend have exacerbated concerns over the Chinese economy but authorities may refrain from cutting interest rates or banks' reserve requirement ratio unless labour market conditions deteriorate.
For Hong Kong and South China newspapers see.....