UPDATE 1-PRESS DIGEST - China - Sept 29

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BEIJING/SHANGHAI, Sept 29 (Reuters) - Chinese newspapers available in Beijing and Shanghai carried the following stories on Tuesday. Reuters has not checked the stories and does not vouch for their accuracy.

FINANCIAL NEWS

-- The National Development and Reform Commission has started drafting the next five-year plan for overall economic growth and social development for the period between 2011 and 2015.

CHINA DAILY (www.chinadaily.com.cn)

-- The Agricultural Bank of China, the last one of the big four state-owned lenders that has yet to get listed, could float its shares on the Shanghai Stocks Exchange as early as May or June of 2010, sources said.

-- Experts and local residents are wary about a planned petrochemical plant by German chemical giant BASF (BASF.DE) near the western part of the Three Gorges Reservoir despite assurances of environmental safety.

PEOPLE'S DAILY

-- Beijing will shut down civil aviation for three hours on Oct. 1 to ensure security during the National Day parade.

-- China has drawn the world's most precise, highest-resolution three-dimensional lunar map.

CHINA SECURITIES JOURNAL

-- Shang Fulin, chairman of the China Securities Regulatory Commission, said the securities regulator supports Chinese enterprises in using capital markets for restructuring and consolidation.

-- China Railway Construction Corp (601186.SS) said several of its units recently won contracts worth about 14.8 billion yuan ($2.2 billion), which accounted for 6.56 percent of the company's revenue in 2008.

-- China Railway Group (0390.HK) (601390.SS), China's largest construction company, said its units recently won contracts worth 11.67 billion yuan, which accounted for 4.97 percent of the company's 2008 sales revenue.

-- Bengang Steel Plates Co Ltd (000761.SZ)(200761.SZ) said the company planned to pay 2.872 billion yuan for setting up two wholly-owned units to produce iron ore pellets and stainless steel.

SHANGHAI SECURITIES NEWS