PRESS DIGEST -China - July 1
SHANGHAI, July 1
SHANGHAI, July 1 (Reuters) - Chinese newspapers available in Beijing and Shanghai carried the following stories on Tuesday. Reuters has not checked the stories and does not vouch for their accuracy.
CHINA SECURITIES JOURNAL
- The Chinese economy will continue to face downward pressure in the second half of 2014, according to industry sources. The front-page article also said liquidity is expected to remain loose and the possibility that the central bank would cut interest rates cannot be ruled out if third- and fourth- quarter economic data remain weak.
- China plans to speed up a batch of major energy projects and may start a nuclear power project soon, said Wu Xinxiong, director of National Energy Administration.
CHINA BUSINESS NEWS
- A total of 633.5 billion yuan ($102.12 billion) worth of real-estate trust will mature in 2014, Haitong Securities calculated.
- Short-term measures by Chinese local governments to boost the housing market will not be beneficial for the local economy, and officials should focus on supporting the real economy, the newspaper said in an editorial.
- The expulsion of former Vice Chairman of the Central Military Commission, Xu Caihou, reflects the policy of the Chinese Communist Party and shows its determination to fight corruption.
For Hong Kong and South China newspapers see..... ($1 = 6.2036 Chinese Yuan Renminbi) (Reporting by Shanghai Newsroom; Editing by Anupama Dwivedi)
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