PRESS DIGEST -China - Aug 23
SHANGHAI Aug 23 (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.
-- Ping An Bank Co Ltd and China Minsheng Banking Corp Ltd have stopped new property loans, according to sources. In Guangzhou, seven banks have also stopped lending for real estate acquisitions, the paper said.
SHANGHAI SECURITIES NEWS
-- Suning Commerce Group Co Ltd confirmed in a notice released on Friday that it plans to develop banking services and sell funds connected with innovative businesses.
-- China has officially started the process to approve a pilot free-trade zone in Shanghai, the Ministry of Commerce said in a statement released on Thursday. The proposal is subject to approval from the Standing Committee of the National People's Congress, the nation's top legislative body.
-- For China's Communist Party to connect with its citizens, spiritual advancement should be prioritised as well as material needs, according to an editorial in the party's mouthpiece paper. Both these areas are needed to further the development of "socialism with Chinese characteristics".
For Hong Kong and South China newspapers see.....
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