UPDATE 1-PRESS DIGEST - China - Sept 9
(Adds items)
BEIJING/SHANGHAI, Sept 9 (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.
CHINA SECURITIES JOURNAL
-- Zhongjin Gold (600489.SS) said a subsidiary would buy 456 million yuan ($66.7 million) worth of stakes in mining companies in Tibet and elsewhere.
SHANGHAI SECURITIES NEWS
-- China's August consumer price inflation, to be announced on Wednesday, one day ahead of the original schedule, is expected to come in below 6 percent for the first time in 13 months, according to sources.
-- An official at China Eastern Airlines (600115.SS) (0753.HK) said talks on its possible merger with Shanghai Airlines (600591.SS) were still being conducted between government departments only, and the companies themselves had not been involved.
-- Net asset value at 255 equities-focused mutual funds has dropped nearly 50 percent on average since the start of this year.
-- Domestic steel prices may continue falling because of weak demand growth, industry experts say.
-- Local governments have been taking a range of steps to try to stimulate the property markets in their areas, but these steps may not bring long-term benefits because they may simply cover up underlying weakness in the property market.
NATIONAL BUSINESS DAILY
-- China's ARJ21 jet, its first domestically developed major passenger jet, is expected to make its maiden flight on Aug. 21.
CHINA BUSINESS NEWS
-- A new department in the Ministry of Housing and Urban-Rural Development will be tasked with setting policies to supervise the residential real estate market and maintain stability of real estate prices.
FINANCIAL NEWS
-- A total of 281 deals, worth 158.9 billion yuan ($23.24 billion), were signed during the four-day Guangzhou Expo 2008. -- The Ministry of Commerce has approved another six companies to engage in the fuel wholesale business and two for fuel storage after issuing dozens of licenses since late 2006.
CHINA DAILY (www.chinadaily.com.cn)
-- The incidence of HIV/AIDS among Beijing's drug users is declining but the city's gay community remains the most at-risk group, a local health official said.
-- Corrupt Chinese officials who flee the country will be more likely to be convicted overseas as China seeks closer judicial cooperation with more nations, procuratorial officials said.
-- China will become the largest consumer market in Asia by 2009, Commerce Minister Chen Deming said.
PEOPLE'S DAILY
-- China so far has approved 650,000 foreign invested enterprises and attracted over $800 billion in foreign investment, the Ministry of Commerce said. ($1=6.836 Yuan) (Compiled by Beijing and Shanghai Newsrooms; editing by Ken Wills and Edmund Klamann)
