PRESS DIGEST - China - June 12
BEIJING/SHANGHAI, June 12 (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
-- The overall profitability of Chinese banks has improved in the second quarter from the first, banking executives said.
-- China's insurance regulator has issued rules encouraging insurance companies to invest in the country's medical institutions.
SHANGHAI SECURITIES NEWS
-- Export-Import Bank of China has completed more than 50 percent of its yuan lending targeted for 2009 and its bad loan ratio has been falling, the bank's president Li Ruogu said.
-- China's top environmental regulator has halted its approval of several major projects with potential environmental hazards, including steel projects in eastern China's Shangdong province.
-- China Eastern Airlines (600115.SS) (0670.HK) may take over Shanghai Airlines (600591.SS) through a share swap deal, while preserving Shanghai Air's brand.
SECURITIES TIMES
-- China's top 19 auto groups booked a combined profit of 20.06 billion yuan ($2.94 billion) in the first four months, down 27.99 percent from a year earlier, according to data provided by the Ministry of Industry and Information Technology.
-- BYD Auto, a subsidiary of BYD Co (1211.HK), has started a nationwide marketing tour to promote its plug-in hybrid F3DM sedan.
PEOPLE'S DAILY
-- Chinese President Hu Jintao and U.S. President Barack Obama sent messages to the United States' National Symphony Orchestra (NSO), wishing its performance in China success. ($1=6.834 Yuan) (Compiled by Beijing and Shanghai Newsrooms; Editing by Edmund Klamann)
