UPDATE 1-PRESS DIGEST - China - Aug 6

BEIJING/SHANGHAI, Aug 6 (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 SECURITIES JOURNAL

-- China and the United States will make an effort to promote sustainable economic growth in their countries to secure a strong recovery from the ongoing global financial crisis, a statement from the China-U.S. Strategic and Economic Dialogue said.

-- CITIC Securities, a leading Chinese brokerage, will move its headquarters from Beijing to Shenzhen, as the government of the southern Chinese city is offering preferable policies to the company after the relocation.

-- Henan Shenhuo Coal & Power Co Ltd (000933.SZ) said it planned to inject 800 million yuan ($117.1 million) into one of its power generator to help it finalise an expanding project.

-- A recent government industry plan of the southern province of Zhejiang supports the regional steel mill Hangzhou Iron and Steel to cooperate with a major domestic steelmaker, which has raised speculation that Baosteel, China's largest steel mill, is going to acquire Hangzhou Steel.

-- An official at the Ministry of Industry and Information Technology denied rumours that the ministry was aiming to form an oligarchic copper smelter in China.

SHANGHAI SECURITIES NEWS

-- China's first voluntary carbon trade was conducted in Beijing on Wednesday. A Shanghai firm paid 277,600 yuan for 8,026 tonnes of carbon emission quota.

-- Agricultural Development Bank of China, one of the country's policy lenders, earned operating revenue of 2.59 billion yuan.

SECURITIES TIMES

-- Fujian Newland Computer Co Ltd 000997.SZ said it planned to raise up to 485 million yuan in a private placement to fund its four projects.

PEOPLE'S DAILY

-- Property sale rates in some Chinese cities including Beijing and Shanghai started to slow in July as home prices hit new highs.

-- Drought has affected 89.3 million mu (6 million hectares) in northern China's Inner Mongolia, Shanxi, Xinjiang, Gansu and Ningxia, with 3.68 million people reported having difficulty obtaining drinking water.

CHINA DAILY (www.chinadaily.com.cn)

-- Floods from heavy rains in southwest China's Chongqing municipality have killed at least 10 people in the past four days, officials with the Ministry of Civil Affairs said.

-- The organising committee of the Guangzhou 2010 Asian Games announced the start of social donations, a move aimed at "allowing the public to take part in supporting the upcoming event".

FINANCIAL NEWS

-- Shanghai has launched an "industrial investment fund" to support the city government's efforts to consolidate the local financial industry.

-- China's Shaanxi province is launching an insurance programme for red jujube farmers.