PRESS DIGEST-China - May 29

SHANGHAI Wed May 28, 2014 9:16pm EDT

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SHANGHAI May 29 (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 is supporting the establishment of crude oil futures and is looking to launch futures of the commodity this year, said Wang Yang, vice-president of the China Securities Regulatory Commision (CSRC).

SHANGHAI SECURITIES NEWS

- Bad loans at Chinese commercial banks rose to 646.1 billion yuan ($103.28 billion) at the end of the first quarter from 592.1 billion yuan at the start of the year, according to official data. This marked 10 straight quarters of rising bad loans.

CHINA DAILY

- Chinese teenagers are starting to smoke young, according to a new nationwide survey. Around 20 percent of kids between the ages 13-15 years have tried smoking, with 7 percent being frequent users, the Global Youth Tobacco Survey on China said.

- The Red Cross Society's Beijing branch signed an agreement with the city's public security bureau on Wednesday to strengthen cooperation on dealing with emergencies such as terrorist attacks.

SHANGHAI DAILY

- Shanghai will offer tax refunds to cruise tourists in specific venues to boost shopping, the city's tourism authority said on Wednesday. The city expects 1.08 million cruise tourists this year, up 44 percent on 2013.

PEOPLE'S DAILY

- China's economy is running smoothly and economic and structural adjustments are showing positive signs, the country's premier Li Keqiang was quoted as saying in the paper which acts as a mouthpiece of the leadership.

For Hong Kong and South China newspapers see..... ($1 = 6.2556 Chinese Yuan) (Reporting by Shanghai Newsroom; Editing by Prateek Chatterjee)

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