UPDATE 1-PRESS DIGEST - China - April 30

(Adds items)
BEIJING/SHANGHAI, April 30 (Reuters) - Chinese newspapers
available in Beijing and Shanghai carried the following stories
on Thursday. Reuters has not checked the stories and does not
vouch for their accuracy.

CHINA SECURITIES JOURNAL
-- The 1,624 domestically listed Chinese companies that have
released results reported a combined net profit of 820.8 billion
yuan ($120.3 billion) in 2008, down 17 percent from a year
earlier. Combined first-quarter net profit came to 230.8 billion
yuan, up sharply from 36.8 billion yuan in the fourth quarter.
-- China's banking industry is forecast to report roughly 10
percent profit growth this year, said Guo Shikun, head of the
research department of China Construction Bank Corp.

SHANGHAI SECURITIES NEWS
-- China's commerce ministry is preparing to send another
procurement team to Europe and has not ruled out France as one
possible destination, said Wu Xiling, head of the ministry's
overseas investment and cooperation department.
-- SAIC-GM-Wuling, General Motor's commerical vehicle
venture in south China, has raised its vehicle sales target for
2009 to at least 800,000 units, up from 750,000 units previously,
an unnamed company executive said.

SECURITIES TIMES
-- China's insurance regulator is working on rules to allow
insurance companies to participate in the reform and
restructuring of the country's medical institutions, said Yuan
Li, a representative of the regulatory body.
-- Hainan Airlines Co <600221.SS>, China's fourth-largest
carrier, said its net profit fell 88.9 percent to 31.82 million
yuan in the first quarter. It booked a 1.42 billion yuan net loss
in 2008, compared with a net profit of 626.86 million yuan a year
earlier.
-- Chongqing Changan Automobile Co <000625.SZ>, a Ford Motor
China partner, said its net profit slumped 89.41 percent to
28.34 million yuan in the first quarter, due in part to an 11.65
million yuan investment loss compared with a 308.14 million yuan
gain a year earlier.

CHINA BUSINESS NEWS
-- FAW Car <000800.SZ>, a listed unit of major Chinese
automaker FAW Group, said its first-quarter net profit came to
290 million yuan, down 20.24 percent from a year earlier.

FINANCIAL NEWS
-- China issued 500.9 billion yuan of bonds in the interbank
market in the first quarter of this year, up 6.8 percent from a
year earlier.

CHINA DAILY (www.chinadaily.com.cn)
-- China's culture officials severely criticised plans by a
French auction house to sell an 18th century jade imperial seal
that was looted from China.
-- Shanghai is preparing for the biggest and most extravagant
World Expo in history, with billions of dollars allocated and an
army of thousands of workers deployed for the event to be held
next year.
-- China issued rules to punish officials who forge or cover
up data in statistical work.

PEOPLE'S DAILY
-- Deals signed during the 105th Canton Fair, China's leading
import and export event, fell 18.8 percent to $20.1 billion.
-- China published rules governing foreign financial
information providers in China.

(Compiled by Beijing and Shanghai Newsrooms; Editing by Edmund
Klamann)
((reuters@public.bta.net.cn; +86 10 6586 5566 ext 202, fax +86
10 8527 5258; Shanghai newsroom, +86 21 6104-1688, fax +86 21
6104-1728, shanghai.newsroom@reuters.com))

For Hong Kong and South China newspapers see.....[PRESS/HK]
For Taiwan newspapers see........................[PRESS/TW]
Keywords: CHINA PRESS

(C) Reuters 2009. All rights reserved. Republication or redistribution of
Reuters content, including by caching, framing or similar means, is expressly
prohibited without the prior written consent of Reuters. Reuters and the Reuters
sphere logo are registered trademarks and trademarks of the Reuters group of
companies around the world.

nPEK274557
PRESS/CN