PRESS DIGEST - China - May 21

SHANGHAI Tue May 20, 2014 9:21pm EDT

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SHANGHAI May 21 (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 National Development and Reform Commission (NDRC) said in an announcement on Tuesday that it plans to establish two or three national markets for coal trading.

SHANGHAI SECURITIES NEWS

- Chinese healthcare and defence sector funds are likely to see strong returns over the next decade, outstripping the wider market, fund managers told the official paper.

SHANGHAI DAILY

- Shanghai's top four taxi firms have launched a new taxi booking app to fight back against third-party providers which dominate the sector. China's taxi app market has attracted strong investment from the country's tech giants Alibaba Group Holding Ltd IPO-ALIB.N and Tencent Holdings Ltd.

CHINA DAILY

- The United States' decision to charge five military officers in China over hacking charges is "ill-advised, if not downright stupid," according to an editorial in the state-run paper on Wednesday. Washington is "simply rubbing salt" into a wound already opened by Edward Snowden's revelations, it said.

- China is considering levying heavier taxes on rare earth producers, which could drive up the prices of the minerals, an unnamed source told the official paper. The proposed overhaul would see the amount of tax linked to the value of the minerals rather than the volume as is done currently.

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

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