PRESS DIGEST- China - April 23
April 23 (Reuters) - Chinese newspapers available in Beijing and Shanghai carried the following stories on Wednesday. Reuters has not checked the stories and does not vouch for their accuracy.
CHINA SECURITIES JOURNAL
- China's government will create a 120-billion-yuan ($19.24 billion) fund to support integrated circuit industry, sources told the newspaper.
- China's domestic tax revenue declined by 37.5 billion yuan in the first quarter of 2014 after China moved from a business tax model to a value-added tax policy.
SHANGHAI SECURITIES NEWS
- Chinese healthcare-focused funds were one of the most popular funds in the first quarter of the year, according to data from China's TX Investment Consulting, as China looks to provide medical services to its near 1.4 billion population.
CHINA BUSINESS NEWS
- China is considering easing house purchase restrictions in some second and third-tier cities, although this is not a possibility for first-tier cities, said Zhu Baoliang, a department head at China's State Information Center.
- Chinese authorities in the restive northwest region of Xinjiang have seized hundreds of replica firearms in a crackdown on guns and explosives, local police told the paper.
- Retail sales in China are expected to grow 13 percent this year, according to a government think tank, roughly flat with 2013. Retail sales hit 23.4 trillion yuan last year, the Chinese Academy of International Trade and Economic Cooperation said.
- Chinese cabbies face having their cabs seized if they operate without a license, according to a new regulation from the Shanghai People's Congress. Under existing rules drivers are given a fine or have points taken from their license.
For Hong Kong and South China newspapers see..... ($1 = 6.2375 Chinese Yuan) (Reporting by Chen Yixin and Adam Jourdan in Shanghai; Editing by Anand Basu)