PRESS DIGEST -China - Aug 20

SHANGHAI Tue Aug 19, 2014 8:50pm EDT

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SHANGHAI Aug 20 (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.

SECURITIES TIMES

- The Shenzhen stock exchange and Shenzhen Securities Communication Co Ltd jointly said they would lower various service fees to improve the trading environment of the Shenzhen bourse.

CHINA SECURITIES JOURNAL

- Chinese e-commerce giant Alibaba Group signed a cooperation agreement with car dealer China Grand Auto on Tuesday to establish an online second-hand car trading platform, the official paper said.

- China Railway Corp, the country's railway operator, said on Tuesday it would auction a total of 17 billion yuan ($2.77 billion) of seven-year railway construction bonds on Aug. 20.

CHINA DAILY

- The average monthly salary for university graduates in China is around 2,443 yuan ($398), according to a survey by Peking University of 350,000 graduates across the country. A third of graduates have to rely on their parents.

SHANGHAI DAILY

- China has detained three people in Shanghai for forging and selling fake press cards, police in the city's Hongkou district said on Tuesday.

PEOPLE'S DAILY

- China should increase restrictions on drug use, the newspaper which acts as a mouthpiece for the ruling Communist Party said. A number of high-profile celebrities have been caught in a recent crackdown on drug use in China.

For Hong Kong and South China newspapers see.....

(1 US dollar = 6.1408 Chinese yuan) (Reporting by Shanghai Newsroom; Editing by Anupama Dwivedi)

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