PRESS DIGEST - China - May 27
BEIJING/SHANGHAI, May 27 (Reuters) - Chinese newspapers available in Beijing and Shanghai carried the following stories on Wednesday. Reuters has not checked the stories and does not vouch for their accuracy.
SHANGHAI SECURITIES NEWS
-- China's Central Huijin, a government-controlled investment agency, has signed an agreement with China Jianyin Investment Securities to take 20.7 billion H shares of China Construction Bank (0939.HK)(601939.SS) for free. Media reports previously said Huijin bought a controlling stake in Jianyin.
-- Chinese securities brokerage industry saw their trading commission incomes surpass 47.6 billion yuan ($7 billion) in the first five months, up almost 40 percent from the same period last year, official statistics show.
CHINA SECURITIES JOURNAL
-- China should start the resumption of initial public offerings ahead of the launch of the Nasdaq-style board, in order to control the rhythm of expanding market capital and to avoid adding too much pressure on the market, industry executives said.
-- Kailuan Group, a leading Chinese coal producer, plans to invest 2 billion yuan to build up a huge coal logistics centre in Caofeidian, an industry zone located in the northern Chinese province of Hebei.
-- Sha Yuejia, deputy chief executive officer of China Mobile, said on Tuesday that China will launch a test of TD-SCDMA Long Term Evolution, the next generation of TD-SCDMA communication technology, in the second half of next year.
SECURITIES TIMES
-- Jinzhou Port (600190.SS) said it would form a joint venture with three companies including Datang International Power Generation Co Ltd (601991.SS) to build wharves for loading coal.
