PRESS DIGEST- China - Jan 8

Tue Jan 7, 2014 8:31pm EST

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Jan 8 (Reuters) - Chinese newspapers available in Beijing and Shanghai carried the following stories on Wednesday. Reuters has not checked the stories and does not vouch for their accuracy.

CHINA DAILY

- China's box office generated 21.77 billion yuan ($3.60 billion) of revenue last year, an increase of 27.51 percent from 2012, according to the State Administration of Press, Publication, Radio, Film and Television. Meanwhile, overseas movies made 9 billion yuan, an increase of 54.32 percent.

- Sina Weibo, a popular micro-blogging site, and Alipay, an e-payment provider, announced on Tuesday that they would integrate their systems to boost e-commerce, in a bid to rival WeChat, an increasingly popular chatting app owned by Tencent Holdings Ltd.

SECURITIES TIMES

- The marginal cost to China of accumulating foreign exchange reserves surpasses the marginal revenue and is no longer beneficial for the country, said Yi Gang, deputy governor of the People's Bank of China. New foreign exchange measures will be introduced in 2014, he said.

PEOPLE'S DAILY

- Revisions made by the Ministry of Finance to travel spending regulations have been successful, said an article in the paper that acts as the Party's mouthpiece. The introduction of stringent travel management is not only to control invoices, but to promote thrift, it said.

For Hong Kong and South China newspapers see.....

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