PRESS DIGEST - China - Dec 25

BEIJING/SHANGHAI, Dec 25 (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 DAILY (www.chinadaily.com.cn)

-- The global financial crisis would make it difficult for the country to achieve its economic targets for 2006-2010, which were set when the world economy had a positive outlook, Zhang Ping, head of the National Development and Reform Commission, told a parliament meeting.

-- China's capital city of Beijing cut the rates of compulsory insurance payment for both companies and individuals to help them better cope with the global financial crisis.

PEOPLE'S DAILY

-- China has a total of 1.8 billion mu (120 million hectare) of uncontracted woodland, which, if contracted, can provide about 36 million jobs to the unemployed rural labourers, the State Forestry Administration said.

-- The Railway Ministry will add 319 round-trip passenger train runs on its rail network during the Lunar New Year, which will fall in late January.

-- China has a total of 268 artificially bred pandas.

SHANGHAI SECURITIES NEWS

-- The National Development and Reform Commission, the nation's top planning agency, is actively putting together a revitalisation plan for China's automotive sector which is due to be presented to the State Council, or cabinet, before the end of the week and could be implemented in early January.

-- China Railway Group (0390.HK) (601390.SS) said it had received conditional approval from the China Securities Regulatory Commission for the issue of up to 12 billion yuan ($1.76 billion) in corporate bonds.

CHINA SECURITIES JOURNAL

-- China's CIMC (200039.SZ)(000039.SZ), the world's largest shipping container maker, agreed to sell stakes in two subsidiaries to COSCO Pacific Ltd (1199.HK) for a combined $30 million.

-- China's cotton output in 2008 is estimated at 7.8 million tonnes, but cotton farmers are less willing to grow cotton next year, the China Cotton Association said. (Compiled by Beijing and Shanghai Newsrooms; )