PRESS DIGEST-China - Feb 24
Feb 24 (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.
SHANGHAI SECURITIES NEWS
- Widespread talk that some banks have posed curbs on loans to property developers has caused fresh alarm in the sector that has long been criticised for sky-high housing and land prices.
- A sharp fall in China's short-term money market rates last week, partly propelled by milder-than-expected central bank open market operations, has sparked hopes that the long depressed domestic stock market may continue its recent rebound.
CHINA SECURITIES JOURNAL
- A commentary said unusual high investment in China's property market over the past decade has caused a saturation in the sector and such investment will for certain cool down along with the slowdown of the country's economy in recent years.
- The China Banking Regulatory Commission has convened a meeting on rapid expansion of the country's money market funds, warning that risk is mounting in such products amid an official clampdown on excessive liquidity in the money markets.
CHINA BUSINESS NEWS
- The southern Chinese city of Guangzhou may take the lead to let the public conduct online search on officials' salaries and other income, a step towards ordering officials to make public their assets, which has been a widespread call from the Chinese public yearning for a clean government.
- China may simplify procedures to let brokerages sell assets-backed securities later this year, allowing them to just register with regulators to float such products, instead of applying for approval currently.
- A number of security measures, including a permanent police presence, will be introduced in major hospitals after a rising spate of vicious attacks against medical workers, Sun Haibo, an official at the Ministry of Public Security, said.
- Factories have been closed and vehicles put off the road as China takes a slew of steps to curb persistent air pollution in major cities including its capital of Beijing.
- China is amending its "Advertisement Law" and may ban any parties to send advertisements to anybody via mobile phone short messengers and emails without the permission of receivers.
For Hong Kong and South China newspapers see.....
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