PRESS DIGEST - China - Feb 18
Feb 18 (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.
SHANGHAI SECURITIES NEWS
- Non-performing loans and competition from internet finance services resulted in a slowdown in profit growth at Chinese banks in 2013, according to Chinese brokerages.
CHINA SECURITIES JOURNAL
- China's Ministry of Land and Resources is researching further land reform plans, which would grant more rights to local-level governments and increase the participation of financial institutions.
- Suning Commerce Group Co Ltd said it has obtained a license to sell insurance to consumers through its Suning Insurance Co Ltd unit.
CHINA BUSINESS NEWS
- Inner Mongolia and Guizhou Province plan to undertake a tax reform in the coal industry, adopting a price-based collection method to replace the current quantity-based method.
- As of Feb. 17, about two-thirds of Shanghai-listed real estate firms have predicted a profit for 2013. Just under half of all the 132 real estate firms had reported by this date.
- Only 36 percent of global consumers trust China-based firms, said a report from public relations firm Edelman. China ranked amongst the least-trusted countries, along with Russia and India. Germany, Sweden and Switzerland topped the list.
- Mobile payment transactions grew over 200 percent in 2013 against a year earlier, according to a report from the People's Bank of China. Mobile payments hit 9.64 trillion yuan ($1.59 trillion) last year, accounting for about three percent of the total non-cash payments in China.
- Chinese police have detained over five hundred people this month in a series of stings against the country's sex trade, the Ministry of Public Security said on Monday. Authorities have uncovered 1,300 cases and broken up 73 gangs.
- China's people must be more active to realise the core values of socialism, rather than just talking about it, an editorial in the paper that acts as the part mouthpiece said.
For Hong Kong and South China newspapers see.....