PRESS DIGEST - China - Nov 27
BEIJING/SHANGHAI, Nov 27 (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
-- The unexpectedly strong monetary easing announced by the Chinese central bank on Wednesday evening was likely to boost China's sagging stock market to a great extent, analysts said.
-- China's commodity futures prices are likely to get a boost from Wednesday's monetary easing in the near term, but the rally is unlikely to last long due to unstable global commodity markets.
SHANGHAI SECURITIES NEWS
-- China's government bond market is set to start a new round of a bull run after Wednesday's monetary easing.
-- Henan Rebecca Hair Products Co (600439.SS) plans to set up a wig plant in Ghana with 62.2 million yuan ($9.1 million), and a second in Nigeria with an investment of 76.2 million yuan, to expand the company's market share in Africa.
-- Guangdong Provincial Expressway Development Co (000429.SZ) plans to issue up to 1.3 billion yuan of bonds with terms up to 10 years, to augment the company's medium and long-term capital demand, replenish operational funds and adjust its liability structure.
-- Tsingtao Brewery (600600.SS), China's top beer maker, has signed an agreement with Costa Rica's Florida Bebidas, to distribute its beer in Latin America.
SECURITIES TIMES
-- The Ministry of Commerce issued some guidelines to boost domestic consumption, including quickening the pace to supply goods to rural areas.
-- The Shenzhen Stock Exchange pledged further efforts to help fund-raising among small and medium-sized companies in response to the government's steps to boost the economy, partly by supporting smaller corporations.
FINANCIAL NEWS
-- The massive interest rate cut on Wednesday could stimulate economic growth and is in favour of commercial banks' sustainable development with a better macro economic environment, a commmentary said.
CHINA DAILY (www.chinadaily.com.cn)
-- Seven police officials and government employees have been charged with taking bribes and dereliction of duty in a nightclub fire case that killed 44 in September in Shenzhen.
PEOPLE'S DAILY
-- The Yellow River and other rivers in northern China have been overused by 30 to 90 percent, causing serious ecological damage, Environmental Protection Minister Zhou Shengxian said.
