December 7, 2010 / 1:42 AM / 7 years ago

PRESS DIGEST - China - Dec 7

SHANGHAI, Dec 7 (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.

SHANGHAI SECURITIES NEWS

-- The China Banking Regulatory Commission issued a list of property developers to its banks in September, requesting lenders to step up loan reviews to this list of firms as part of an overall move to strengthen risk management and minimise risk exposure.

-- Average new home prices in Shangai reached a new record high of 23,489 yuan per square meter last week, up 2 percent from the preceeding week, as the latest government policies to curb property prices failed to slow buying sentiment for mid- to high-end properties. However, the total land area reached 230,100 square meters, down 28 percent from the preceeding week.

SECURITIES TIMES

-- China’s Huadian Power (600027.SS) said it has received approval to build its 49.5 megawatts Ningxia wind power project, which is estimated to cost not more than 480 million yuan.

- Dongfang Jingyu (600086.SS) has struck a deal with state-owned China National Gold Group to supply 600 million yuan ($90.25 million) worth of products.

CHINA BUSINESS NEWS

-- China’s textiles export value is expected to reach $200 billion, with total value in the first 10 months having already exceeded last year. However, textile manufacturers have also seen their costs increase, with prices of raw materials having risen between 30-80 percent from a year ago.

-- China installed between 15 million-17 million kilowatts of wind capacity in 2010, an official from the National Development Reform Commission said, bringing the country’s total wind capacity to 40 million kilowatts, up 55 percent from a year ago.

SHANGHAI DAILY

-- Temperatures in Shanghai will be chilly over the next three days, reaching freezing point in the suburbs on Wednesday, while a strong cold front will hit central and eastern China over the next two days with temperatures falling 6-10 degrees Celsius in Shaanxi, Guizhou and parts of Yunnan, weather forecasters said.

-- Cultural relics said to be worth 25 million yuan ($3.76 million) have been stolen from the Shanghai home of an antiques expert, police said. ($1=6.648 Yuan)

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