PRESS DIGEST-China - Nov 12
SHANGHAI Nov 12 (Reuters) - Chinese newspapers available in Beijing and Shanghai carried the following stories on Tuesday. Reuters has not checked the stories and does not vouch for their accuracy.
CHINA SECURITIES JOURNAL
- China's Ministry of Land and Resources said in recent meetings that it will restrict the use of land for industrial production to alleviate oversupply in certain industries. The areas of concern include iron and steel, cement, plate glass and shipping, among others.
- The Chinese central government provided 4.1 billion yuan ($673.1 million) in subsidies to cover the yearly costs of rural financial institutions in 2012, up by 74 percent from the year before, the finance ministry said. The funds supported the development of new types of rural financial institutions and strengthened basic financial services.
- China will fine-tune its 30-year-old family planning policy, but changes will be made in a prudent and coordinated way, and serve to maintain a low birth rate, said Mao Qun'an, spokesman for the National Health and Family Planning Commission.
- China needs 75,000 executive managers with global experience in the next five to 10 years, but only 3,000-5,000 people in the local market meet necessary criteria, research by the Center for China and Globalisation shows.
- Shanghai's Communist Party chief Han Zheng said the city could handle slower GDP growth, and looking ahead development would focus on reforms to make the economy more efficient, protect the environment, and improve the well-being of city residents. Shanghai's GDP grew by 7.7 percent in the first nine months of the year. The government target for 2013 is 7.5 percent.
- Guangdong will launch a pilot lending business that would allow domestic companies to obtain loans or credit from domestic financial institutions with a guarantee from external institutions or individuals, according to the People's Bank of China Guangzhou Branch. This would help to expand the means of financing for private companies and small businesses.
For Hong Kong and South China newspapers see.....
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