PRESS DIGEST- China - April 18
April 18 (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.
CHINA SECURITIES JOURNAL
- China would likely maintain a relatively loose monetary policy to stabilise the economy, the newspaper said in a commentary, adding that Beijing's decision to cut the reverse requirement ratio (RRR) for rural banks is a signal of the central bank's policy slant.
SHANGHAI SECURITIES NEWS
- Several companies, including Shanghai Chaori Solar Energy Science & Technology, are facing delisting pressure following the release of their 2013 earnings.
- China's Ministry of Finance said the country's fiscal revenue rose 9.3 percent to 3.5 trillion yuan ($562.79 billion) in the first quarter of this year from a year early.
CHINA BUSINESS NEWS
- Local airlines lost 1.4 billion yuan ($225 million) in March, tumbling 340 percent from year earlier due to a deprecation in the Chinese currency, Civil Aviation Administration of China said in its statistics report.
- Local authorities collected 16.5 million yuan ($2.7 million) worth of fines in the final three months of last year from companies that breached environmental regulations. A total of 44 firms were closed down or had their operations suspended during the period, while a further 210 were fined or given warnings, the Shanghai Environmental Protection Bureau said.
- Four banks, China Citic Bank, China Construction Bank, China Minsheng Banking Corp and the China Industrial Bank have sued state-run Jiangsu Salt Industry Group Co for being a guarantor for two debt-ridden subsidiaries that have suspended production.
- The former deputy general manager of China Eastern Airlines, Chen Haiju, went on trial in Shanghai for taking more than 5 million yuan ($804,000) worth of bribes. Chen has denied all the charges.
For Hong Kong and South China newspapers see..... ($1 = 6.2190 Chinese Yuan) (Compiled by Shanghai Newsroom; Editing by Anand Basu)
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