UPDATE 1-PRESS DIGEST - China - Dec 20

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BEIJING, Dec 20 (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.

SHANGHAI SECURITIES NEWS

-- China Minsheng Banking Corp (600016.SS: Quote, Profile, Research, Stock Buzz) said shareholder China Overseas Holdings Group had sold a 1 percent holding in the company as of Dec. 19, lowering its stake to 4.53 percent.

-- Beijing Huatie Century Advertising Co, which provides advertising on China's railway systems, has obtained venture capital investment from IDGVC and plans to list on the Nasdaq in the United States in 2009. Huatie competes with Focus Media Holdings Ltd (FMCN.O: Quote, Profile, Research, Stock Buzz).

-- Most Chinese institutions expect the central bank to raise interests rates by 54 basis points next year, according to a survey conducted by Shenyin & Wanguo Securities Co.

-- Yang Chao, chairman of China Life (601628.SS: Quote, Profile, Research, Stock Buzz), denied that the company planned to buy 20 percent of Agricultural Bank of China, saying such talk was purely market speculation.

CHINA SECURITIES JOURNAL

-- China Shenzhen Development Bank (000001.SZ: Quote, Profile, Research, Stock Buzz) has received shareholder approval to sell 120 million new shares to Baosteel Group at 35.15 yuan apiece. Chairman Frank Newman said the deal would boost the lender's capital adequacy ratio above the minimum 8 percent required by regulators so that it could expand its networks and new businesses.