UPDATE 1-PRESS DIGEST - China - March 14
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BEIJING/SHANGHAI, Mar 14 (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
-- China Securities Regulatory Commission Chairman Shang Fulin said in an article that reforms to the capital markets would continue without a pause.
-- A securities regulatory official from Hunan Province, attending the National People's Congress, suggested that the securities law be revised to permit people doing securities business to buy shares in their own companies, or to receive them as incentives.
SHANGHAI SECURITIES NEWS
-- The Finance Ministry has set tax incentives for people who buy low-cost housing or rent out their homes.
-- Xining Special Steel Co (600117.SS) said net profit excluding extraordinary items rose 47 percent to 292.3 million yuan ($41.2 million) last year, as revenue climbed 68 percent to 5.77 billion yuan.
-- Long March Launch Vehicle Technology Co (600879.SS), which makes equipment for rockets and satellites, is buying Huangshi Anrad Radiation Cable Co for 49.8 million yuan.
CHINA BUSINESS NEWS
-- After the Shanghai Composite Index's .SSEC drop below 4,000 points, fears are growing that a bear market in stocks has begun, and there are increasing calls for authorities to take action to help the market, particularly by cutting the stock trading tax.
CHINA DAILY (www.chinadaily.com.cn)
-- China's civil aviation authority said stricter security checks would soon be implemented after a foiled attempted attack on a Beijing-bound passenger plane last Friday. The new measures include increasing hand luggage inspections and body checks, ending express check-in services and banning carry-on liquid items on domestic flights.
-- Health authorities in South China's Guangdong province are maintaining an influenza vigil as neighbouring Hong Kong announced a two-week suspension of classes to prevent the spread of flu after four children died.
PEOPLE'S DAILY
-- Chinese President Hu Jintao spoke highly of Russian President Vladimir Putin's contribution to bilateral ties. Hu said the development of Russian-Chinese strategic cooperation would be continued in the future. (Compiled by Beijing and Shanghai Newsrooms; Editing by Edmund Klamann)
