PRESS DIGEST -China - Oct 25
Oct 25 (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
- Net profit of Chinese insurers jumped 134.9 percent in the first nine months of this year to 91.75 billion yuan ($15.09 billion), due to a low base last year and improved investment returns, according to the China Insurance Regulatory Commission.
SHANGHAI SECURITIES NEWS
- Shanghai will merge the city's two major newspaper groups, the Jiefang Daily Group and Wenhui Xinmin United Press Group.
- Wal-Mart Stores is looking to close 15-30 underperforming stores in China.
- Competition and protectionism have caused Japanese dairy manufacturer Meiji to quit the China infant formula market. Meiji was forced to slash prices by regulators during an anti-monopoly campaign.
- China's industrial recovery remains weak, said an official with the Ministry of Industry and Information Technology.
- Agricultural Bank of China plans to offload non-performing assets valued 10 billion yuan ($1.64 billion) on the Beijing Financial Assets Exchange.
- China's urban employment increased by 10.66 million people during the first nine months, hitting the 9 million target for the year ahead of schedule.
For Hong Kong and South China newspapers see.....
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