UPDATE 1-PRESS DIGEST - China - June 5
(Adds items)
BEIJING/SHANGHAI, June 5 (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
-- China is not likely to issue a nationwide policy to limit thermal coal prices, analysts said, although the coal-producing provinces of Shandong and Shaanxi had issued such regulations.
-- Shenzhen, a boom town near Hong Kong, will hike the standard for the city's minimum wage as much as 20 percent starting from July, the city government said.
SHANGHAI SECURITIES NEWS
-- China's state auditing watchdog said in a report that sales of land-use rights in 11 cities had violated regulations.
-- Livzon Pharmaceutical Group Inc (000513.SZ) (200513.SZ) plans to spend up to HK$160 million ($20.5 million) to buy back its foreign-currency B shares on the Shenzhen Stock Exchange for no more than $HK16 per share. That would comprise up to 8.18 percent of its B shares, which last closed at HK$12.36 before they were suspended from trade on April 3.
CHINA BUSINESS NEWS
-- The Chinese government should allow more domestic private equity and industrial funds to invest overseas and simplify regulatory procedures, an official at the National Development and Reform Commission said.
FINANCIAL NEWS
-- China Agricultural Development Bank, a policy lender, has designated 5.0 billion yuan ($720.6 million) for state purchases from the summer grain harvest.
-- China UnionPay, the bank card system management, has supplied mobile POS and automatic teller machines to earthquake-hit areas.
CHINA DAILY (www.chinadaily.com.cn)
-- China faces "serious" water pollution and rural environmental deterioration, the country's Ministry of Environmental Protection said.
-- Factories along the Taihu Lake in Jiangsu province will be fined up to 1 million yuan, up from the previously maximum fine of 200,000 yuan, if they discharge excessive pollutants into the lake.
PEOPLE'S DAILY
-- China vice premier Li Keqiang met with James McNerney, the chairman and chief executive of Boeing (BA.N).
-- Most factories and plants in Sichuan province's larger cities that had halted production after the earthquake have now resumed operation.
-- China is promoting four "standard gestures" for spectators at Olympics events to encourage "sport site civilization". The gestures and cheers were jointly introduced by the civilization office of China's Central Communist Party Committee, the Ministry of Education, the Beijing Olympics organising committee and CCTV. ($1=6.939 Yuan) ($1=7.806 Hong Kong Dollar) (Compiled by Beijing and Shanghai Newsrooms; Editing by Ken Wills and Edmund Klamann)
