UPDATE 1-PRESS DIGEST - China - May 13
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BEIJING/SHANGHAI, May 13 (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
-- Analysts are mixed on the likely direction of China's inflation rate. Some analysts forecast the country's annual consumer price inflation rate will fall below 8 percent in May, but others said it would remain high through the second half.
-- Sichuan Gaojin Food 002143.SZ said three subsidiaries halted production due to damage and power and water outages caused by Monday's earthquake in Sichuan Province.
-- Kingray Technology (600390.SS) will issue shares to raise up to 400 million yuan ($57.25 million) in a private placement to fund three manganese and nickel production lines.
-- The China Securities Regulatory Commission has urged explicitly making it a crime to profit from trading on a client's account without the client's authorisation.
SHANGHAI SECURITIES NEWS
-- Parent and affiliated companies of 30 listed firms hold a total of 7 billion yuan in funds that should be distributed to the listed firms, despite calls from regulators to resolve the problem.
SECURITIES TIMES
-- Real estate developer Shenzhen Zhenye 000006.SZ plans to sell additional shares to its shareholders to raise 1.2 billion yuan to fund a major property project.
FINANCIAL NEWS
-- China has imposed detailed rules to combat financial market crimes including insider trading, illegal information disclosure and manipulation, according to a statement by the Supreme People's Procuratorate and the Ministry of Public Security.
CHINA DAILY (www.chinadaily.com.cn)
-- The death toll from the deadly earthquake that rocked southwestern China on Monday is expected to rise as rescue efforts intensify.
-- Local residents in the southern city of Shenzhen were angered to learn that a traffic surveillance camera in the city was trained on the bedrooms and bathrooms of well-lit apartments nearby during the night.
PEOPLE'S DAILY
-- China's financial hub Shanghai is considering proposing legislation that would ban smoking in all public places. ($1=6.987 Yuan)
