PRESS DIGEST-China - June 11
SHANGHAI, June 11
SHANGHAI, June 11 (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 regulators might expand financing channels for asset management agencies and support these institutions to issue corporate bonds, subordinated debt or short-term bills to encourage mergers and acquisitions among domestic and foreign-listed companies.
CHINA BUSINESS NEWS
- A total of 2.4 trillion yuan ($385.60 billion) local government bonds are due this year, which could be a stressful year for local governments, said the Ministry of Finance. An official survey last year indicated that China's local government debt stood at 17.9 trillion yuan by the end of June 2013.
- More than 20 percent of homes owned by urban households in China remained empty in 2013, a report showed. The overall vacancy rate for residential properties in urban areas across the country rose 1.8 percent from 2011 to 22.4 percent last year, translating into around 48.98 million homes being vacant during the period, said a report by the China Household Finance Survey.
- China's listed companies are preparing for an unprecedented wave of resignations by independent directors following a party directive on officials' other jobs outside their office. So far, more than 200 listed companies have reported resignations, some of whom are ex-government officials, professors and administrators.
For Hong Kong and South China newspapers see..... (Reporting by Shanghai Newsroom; Editing by Prateek Chatterjee)