PRESS DIGEST - China - July 19
SHANGHAI, July 19
SHANGHAI, July 19 (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 banks hold deposits of 9.85 trillion yuan ($1.60 trillion), which is sufficient to handle any liquidity issues, Xiu Yan, a department director in the China Banking Regulatory Commission (CBRC), said at a forum on Thursday.
- According to official second-quarter figures, 1,532 Chinese mutual funds held by 72 companies lost a total of 49.035 billion yuan, in stark contrast to the 69.695 billion yuan profit made in the first quarter.
SHANGHAI SECURITIES NEWS
- Chinese elevator and escalator company SJEC Corp announced plans to repurchase 29.41 million of its shares for up to 8.5 yuan per share, accounting for about 7.06 percent of its total share capital. The company is aiming to spend no more than 250 million yuan.
- The authority to register international non-governmental organizations has been devolved to provincial civil affairs authorities from the Ministry of Civil Affairs as part of the efforts to make NGO operations in China easier.
- China will allow foresters and forestry production managers to use commercial forestry contracts to secure bank loans for foresting purposes, according to new rules released by the CBRC and the State Forestry Administration on Thursday.
For Hong Kong and South China newspapers see.....
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- Stocks head for worst quarter since euro crisis, dollar soars
- China OKs iPhone 6 sale after Apple addresses security concerns
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