UPDATE 1-PRESS DIGEST - China - Sept 9

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BEIJING/SHANGHAI, Sept 9 (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.

FINANCIAL NEWS

-- China's Bank of Communications (3328.HK)(601328.SS) was approved to buy a controlling stake in China Life-CMG Insurance Co, a venture between China Life Insurance Co Ltd (2628.HK) and Commonwealth Bank of Australia (CBA.AX), becoming the country's first commercial bank to own an insurer.

CHINA DAILY (www.chinadaily.com.cn)

-- Teenage students in Beijing, Shanghai and Guangdong will be at the front of the line when the government starts vaccinating people against the H1N1 flu strain and the first injections will be administered in October, Health Minister Chen Zhu said.

-- Local police said they received 77 reports of syringe attacks in the 24 hours to 5 pm on Monday in Urumqi, capital of Xinjiang, despite the authority's warning that attackers might face the death penalty.

-- China's largest domestically-made jumbo jet, with up to 200 seats, is scheduled to take its maiden voyage in 2014 before being delivered to buyers in 2016, an official with the Commercial Aircraft Corporation of China said.

-- A woman in eastern Jiangsu province has been refused for a government job because she had a baby before marriage.

PEOPLE'S DAILY

-- Chinese firms made $183.9 billion of direct investments in 174 countries and regions as of the end of 2008, latest government statistics showed.

-- Developed countries should show sincerity to international communities by firstly committing to deep reductions in greenhouse gas emissions in the mid-term and fulfilling promises to provide financial and technological support to developing countries in the upcoming Copenhagen climate change conference, a senior Chinese political adviser said.

-- China will make an effort to protect the global climate environment by undertaking obligations that are compatible to its stage of development, responsibility and ability, another senior government official said.

-- Electricity consumption in August in southern Guangxi region surged 19.8 percent from a year earlier, the highest growth rate in the month among Chinese provinces and regions.

CHINA SECURITIES JOURNAL

-- China is likely after Oct. 1 to release draft rules for foreign companies to float shares in the domestic market, said Ted Tokuchi, chairman of CITIC Securities International.