PRESS DIGEST - China - March 6
March 6 (Reuters) - Chinese newspapers available in Beijing and Shanghai carried the following stories on Thursday. Reuters has not checked the stories and does not vouch for their accuracy.
CHINA SECURITIES JOURNAL
- China supports development of insurance products for online retail sales, said Xiang Junbo, the chairman of China Insurance Regulatory Commission, adding that the launch of regulations "will not be too slow".
- China has earmarked 10 billion yuan ($1.63 billion) to fight air pollution in the first half of this year, said Zhou Shenxian, Minister of Environment Protection.
SHANGHAI SECURITIES NEWS
- China is on track to meet its target to slash overcapacity in bloated industries by 2014, said an official from the Ministry of Industry and Information Technology, adding that the ministry has stepped up efforts to ensure companies with outdated capacity are shut. Beijing has said it will eliminate 27 million tonnes of steel, 420 million tonnes of cement and 350 million tonnes of flat-glass production capacity this year.
21st CENTURY BUSINESS HERALD
- Yu E Bao, a money-market fund promoted by Alipay, may promote a substantial increase in social financing costs, said Ma Weihua, member of the national committee of CPPCC and former president of China Merchants Bank.
- China's top economic planning agency, the National Development and Reform Commission, will launch a self-imposed reform that will reduce its own power as part of the central government's campaign to give the market play a greater role, Chairman Xu Shaoshi said.
For Hong Kong and South China newspapers see.....