PRESS DIGEST - China - June 20

SHANGHAI, June 20 Thu Jun 19, 2014 9:20pm EDT

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SHANGHAI, June 20 (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

- SAIC Motor Corporation Limited will invest more funds to develop vehicles carrying its own brand, said Chairman Chen Hong.

SHANGHAI DAILY

- The prolonged effects of the slowdown in China's property market could hurt economic growth, but reforms to balance the economy will offset the negative impact, Moody's Investors Service said in Shanghai.

- Polluters face harsher penalties under a draft amendment to an air pollution prevention law reviewed by the Shanghai legislative body. Anyone found guilty of discharging major air pollutants without a licence faces a fine of up to 500,000 yuan ($80,645) compared to the current 100,000 yuan.

CHINA DAILY

- Two provincial-level officials from China's northern Shanxi province, Ling Zhengce and Du Shanxue, are under investigation for suspected serious discipline and law violations - an euphemism for corruption - China's anti-graft authority said on Thursday.

- China should consider flexible grain imports from international markets and take steps to ensure sustained growth in domestic output of staple grains for long-term food security, government officials and foreign exporters said on Thursday.

PEOPLE'S DAILY

- Mainland China and Hong Kong should strive hard towards implementing the "one country, two systems" policy and work together for prosperity, the newspaper said in its commentary.

For Hong Kong and South China newspapers see..... (Reporting by Chen Yixin and Fayen Wong; Editing by Subhranshu Sahu)

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