UPDATE 1-PRESS DIGEST - China - June 6
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BEIJING/SHANGHAI, June 6 (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's securities regulator will support companies that suffered damage from last month's earthquake via "fast track" approvals of financing plans, Shang Fulin, head of the China Securities Regulatory Commission, said in a visit to quake-hit Sichuan province.
-- Industry officials and analysts have mixed views on whether price controls on coal for electric power generation that have been implemented in three coal-producing provinces will be extended nationwide.
-- Shenhuo Coal Industry and Electricity Power (000933.SZ) said it planned to invest 350 million yuan ($50.4 million) to build an aluminium strip and plate mill with annual capacity of 100,000 tonnes.
SHANGHAI SECURITIES NEWS
-- Pudong Construction (600284.SS) said it had won regulatory approval to issue up to 120 million additional domestic A shares to raise up to 1.5 billion yuan.
-- China Southern Airlines (600029.SS) said it planned to issue medium-term notes worth 1.5 billion yuan to boost its cash position.
-- Sichuan Minjiang Hydropower (600131.SS), one of the companies worst hit by the May 12 earthquake, said three transformer substations had resumed operation and another two were expected to restart soon.
SECURITIES TIMES
-- A Taiwan financial industry regulator at a news conference in Hong Kong called for strengthening ties between Taiwan's and China's stock markets.
FINANCIAL NEWS
-- Agricultural Development Bank of China, a policy lender, has provided 4.5 billion yuan in credit to earthquake-hit areas.
-- Business has resumed at up to 99 percent of financial firms' branches and outlets in Sichuan, Shaanxi and Gansu provinces that were affected by the May 12 earthquake, while 108 outlets in the hardest-hit zones have yet to resume operations.
CHINA DAILY (www.chinadaily.com.cn)
-- Thousands of people in Maoming of Guangdong province are waiting for fresh supplies of drinking water despite assurances by local authorities that tap water is safe to drink two days after a chemical plant in the city exploded and contaminated the water supply.
-- A draft law in Liaoning province would require adult children to contact or visit their parents regularly.
-- Beijing will decorate the city with more than 40 million flowering plants at Olympic venues, tourist sites and main roads during the Olympics games. Some of the flowers have been imported from the United States, Britain and Japan.
PEOPLE'S DAILY
-- Southern Guangdong province has maintained a double-digit annual economic growth rate for the first five months of this year, despite industrial production disruptions from severe winter weather in February.
-- Water quality in the Huangpu River, which runs through downtown Shanghai, improved for the first time in five years.
-- The Jiuzhaigou resort, which was closed due to the Sichuan earthquake, plans to re-open to tourists soon. Cui Guangyi, a provincial official, said tourists can take local flights there because roads to Jiuzhaigou that were damaged by the quake have yet to be repaired. ($1=6.946 Yuan) (Compiled by Beijing and Shanghai Newsrooms; Editing by Ken Wills and Edmund Klamann
