PRESS DIGEST - China - March 30

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

CHINA SECURITIES JOURNAL

-- Jinan Iron and Steel Co (600022.SS) Chairman Chen Qixiang told a shareholders meeting that the steel market would begin to see the direct effects of government policies to stabilise the economy in the second quarter, adding that the government's 4 trillion yuan ($586 billion) stimulus package could generate demand for 100 million tonnes of steel products.

-- China Nonferrous Metal Industry's Foreign Engineering and Construction Co Ltd (000758.SZ) has agreed to buy a 12.29 percent stake in Terramin Australia Ltd (TZN.AX) for A$10 million ($6.90 million).

-- GD Power Development Co (600795.SS), a major supplier of heat and electricity, reported a nearly 90 percent drop in net profit to 179 million yuan in 2008, reflecting a large rise in coal prices and reduced power generation.

-- More than 90 percent of fund managers in a poll by the newspaper expected to generate positive returns from A-share investment in the next six months, as they raise their forecasts for corporate earnings.

SHANGHAI SECURITIES NEWS

-- The Shanghai Stock Exchange on Monday published three indexes that track China's listed state-owned enterprises. ICBC Credit Suisse Asset Management Co, a Chinese fund venture of Credit Suisse (CSGN.VX), has obtained a licence to develop exchange-traded funds based on one of the indexes this year. ($1=1.449 Australian Dollar) ($1=6.831 Yuan) (Compiled by Beijing and Shanghai Newsrooms; )