PRESS DIGEST - China - Jan 15

BEIJING/SHANGHAI, Jan 15 (Reuters) - Chinese newspapers available in Beijing and Shanghai carried the following stories on Tuesday. Reuters has not checked the stories and does not vouch for their accuracy.

SHANGHAI SECURITIES NEWS

-- Beijing-based investment bank China International Capital Corp predicted that China's consumer price inflation (CPI) would hit 5.0-5.5 percent in 2008, up from its previous forecast of 4.0-4.5 percent. The bank expected China's CPI for December 2007 to reach 6.1-6.5 percent. It also revised down its 2008 GDP growth forecast for China to 10.5-11 percent from 11 percent.

-- Some Chinese banks have been raising their lending rates for small- to medium-sized enterprises as part of efforts to offset losses from China's credit tightening, a report said.

-- Shanghai and Shenzhen stock exchanges have been urged to reform their stock trading suspension rules to avoid any unnecessary halt in share trading and improve transparency.

-- More Shanghai government officials overseeing the city's property sector are under investigation over suspected corruption, sources said.

CHINA SECURITIES JOURNAL

-- Nine Chinese A-share companies, including Jiangsu Lianyungang Port Co (601008.SS), announced on Tuesday that their 2007 earnings would rise more than 50 percent.

SECURITIES TIMES

-- China's nuclear power plants generated more than 62.862 billion kilowatt hours of electricity last year, up 14.61 percent year on year, a report said, citing official figures.

CHINA BUSINESS NEWS

-- Chinese brokerage Essence Securities is expanding its share capital with a view to launch an initial public offering of shares next year.

-- China Securities Regulatory Commission will review a plan by Jinduicheng Molybdenum Group Co Ltd, China's largest producer of the metal used to toughen alloy metal, to issue 538 million A shares in Shanghai to raise an estimated $1 billion.

-- China Development Bank has set up a $350 million venture capital fund in partnership with a bank in Israel. It is the sixth international venture capital fund involving the Chinese lender.

21ST CENTURY BUSINESS HERALD

-- Chinese appliance makers Sichuan Changhong Electric Co (600839.SS) and Guangdong Midea Electric Appliance Co Ltd 000527.SZ are likely to be among potential suitors for a controlling stake in Chinese washing machine maker Wuxi Little Swan (000418.SZ) (200418.SZ). Little Swan said on Tuesday its controlling shareholder plans to sell off its 24.01 percent stake in the washing maching maker.

-- Eight Chinese financial institutions, including the Industrial and Commercial Bank of China (601398.SS) (1398.HK) have signed agreements to manage 20 billion yuan in corporate pension funds of China National Petroleum Corp, the country's largest oil and gas producer, sources said.