PRESS DIGEST- China - March 21

March 21 Thu Mar 20, 2014 9:49pm EDT

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March 21 (Reuters) - Chinese newspapers available in Beijing and Shanghai carried the following stories on Friday. Reuters has not checked the stories and does not vouch for their accuracy.

SHANGHAI SECURITIES NEWS

- China Hi-Tech Group Corp will repurchase all H shares of its listed subsidiary Jingwei Textile Machinery Co Ltd with a premium of 30 percent, the company said in a statement.

SECURITIES TIMES

- Hot rolled coils futures starts trading at Shanghai Futures Exchange on Friday with the benchmark price being 3316 yuan per tonne, according to a statement on its website.

NATIONAL BUSINESS NEWS

- China's urbanization rate is expected to reach 60 percent by 2020, demanding investment of more than 42,00 billion yuan, the vice minister of the Ministry of Finance said. The investment will mainly come from private investors, he added.

21ST CENTURY BUSINESS HERALD

- China's central bank said in a closed-door meeting that it would not change its supportive stance toward online financing industry, sources told the paper. This comes after it suspended the QR code payment service last week.

CHINA DAILY

- China should maintain diversity in its urbanization process and not harm the cultural and historical heritage preserved in its numerous villages and small towns, an editorial said.

PEOPLE'S DAILY

- The key of the success of China's ongoing political and economic reform is the enforcement of the pronounced reform policies, the paper which acts as the party's mouthpiece said in an editorial.

For Hong Kong and South China newspapers see..... (Reporting by Shanghai Newsroom; Editing by Anand Basu)

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