PRESS DIGEST - China - July 15
SHANGHAI, July 15
SHANGHAI, July 15 (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.
- Hong Kong is considering lifting limits on the amount of infant milk formula mainland visitors can take home with them. The restrictions came into effect in March when mainland visitors bought so much formula in Hong Kong it caused a shortage.
- The abrupt cancellation on Saturday of a plan to build China's largest uranium processing plant indicates that local governments are not communicating properly with residents in building environmentally-sensitive projects, a commentary by this newspaper said.
SHANGHAI SECURITIES NEWS
- A slew of new policy steps promulgated by the State Council, or cabinet, over the past 10 days indicate that China is stepping up its efforts to boost consumption.
- Along with increasing signs the U.S. Federal Reserve is considering an exit from quantitative easing (QE), China's stock market will likely see an outflow of overseas funds in the second half of the year.
CHINA SECURITIES JOURNAL
- High ratio bonus issues offered by Chinese listed firms reflect that some companies have tried to attract investors looking to take a punt on markets while avoiding rewarding cash dividends, the paper said in a commentary.
NATIONAL BUSINESS DAILY
- Half-yearly reports published by local governments so far show that many Chinese localities still rely on government investment to boost growth.
- A house editorial castigated the United States for "engineering its monetary and exchange policy to suit its needs" and said that the current U.S. policy of monetary easing is causing rapidly rising inflation in emerging market economies. For Hong Kong and South China newspapers see.....
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