PRESS DIGEST- China - Dec 23
Dec 23 (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.
- Chinese investors invested $5.89 billion in the U.S. property market in the first 10 months of this year, six times of the combined value of their investment in 2011 and 2012, according to the data published by the New York-based research institute, Rhodium Group.
CHINA BUSINESS NEWS
- The People's Bank of China's pro-tight liquidity stance in recent weeks is believed partly motivated by preventing the repetition of a tradition that government departments rush to spend at the end of a year, analysts said.
CHINA SECURITIES JOURNAL
- The central bank's pro-tight liquidity stance that has caused a money market squeeze implies that China's stock market will remain weak in the short term, analysts said.
- Data published by the China Securities Regulatory Commission shows 756 Chinese companies are now on a waiting list to launch stock initial public offerings (IPOs).
SHANGHAI SECURITIES NEWS
- China is expected to build 6 million cheap homes next year in a continuation of a policy to support low-income families, although the number will be slightly less than that of this year.
- The Shanghai Stock Exchange said an unexpected 2-percent fall in China's main Shanghai Composite Index last Friday was mainly caused by adjustments of share portfolio by a handful of foreign institutional investors in the last few minutes of trading.
- China is moving in the right direction by pledging to set up dedicated courts for intellectual property rights cases, that will help judges become more proficient in handling complex cases, Johannes Christian Wichard, deputy director-general of the World Intellectual Property Organisation, said.
- China published a chronicle of late leader Mao Zedong during the years from 1949 to 1976 ahead of the 120th anniversary of his birthday on Thursday.
For Hong Kong and South China newspapers see.....