PRESS DIGEST - China - Nov 28

BEIJING/SHANGHAI, Nov 28 (Reuters) - Chinese newspapers available in Beijing and Shanghai carried the following stories on Friday. Reuters has not checked the stories and does not vouch for their accuracy.

CHINA SECURITIES JOURNAL

-- A prolonged depression of China's stock market over the past year has delayed plans of asset injections and group listings of 55 listed companies since the start of this year.

-- China need not worry about inflation, as the country's consumer price index will certainly fall below 4.0 percent in November and December, according to Yao Jingyuan, chief economist at the National Bureau of Statistics.

-- Cinda Asset Management Co is considering buying control of Xian City Commercial Bank as the asset managers under China's Big Four state-owned banks, including Cinda, are eyeing more stakes in local banks for future developments.

-- Shanghai Xinhua Media (600825.SS) plans to issue up to 800 million ($117 million) short-term bills to consolidate its capital base and pay back bank loans.

SHANGHAI SECURITIES NEWS

-- The Shanghai Stock Exchange and China Securities Index Co will launch three new indices on infrastructure, resources and transportation to reflect the latest economic developments in China.

-- China may be forced to adjust its yuan exchange rate policy towards the direction of depreciation due to the latest global economic trends, Liu Wei, head of the School of Economics at Peking University said.

- China urgently needs to launch more hedging tools because a lack of them at home is a key reason why major Chinese companies, including Air China (0753.HK)(601111.SS) and China Eastern Airlines (600115.SS)(0670.HK)(CEA.N), have made hedging losses in the recent correction of global oil prices.

-- Zijin Mining Group (601899.SS)(2899.HK) said it planned to invest 1 billion yuan in equities in domestic and overseas mining companies. It has not yet given details.

SECURITIES TIMES

-- The latest round of China's interest rate cuts may bring the country's rates to record low levels next year.

-- Despite a slump on China's mainland stock market, the more severe impact of the global financial crisis on Hong Kong has caused the premiums enjoyed by domestic A shares against Hong Kong-listed H shares of the same companies to jump over the past four months.

-- Investment company Weichai Power (2338.HK)(000338.SZ) said it planned to issue 2.7 billion yuan in five-year medium-term corporate bills to supplement working capital and improve its debt structure.

CHINA BUSINESS NEWS