UPDATE 1-PRESS DIGEST - China - Aug 15
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BEIJING/SHANGHAI, Aug 15 (Reuters) - Chinese newspapers available in Beijing and Shanghai carried the following stories on Friday. Reuters has not checked the stories and does not vouch for their accuracy.
CHINA SECURITIES JOURNAL
-- Growth in revenue from China's stock stamp tax in the first half of this year slowed sharply to 28.3 percent due to the stock market's slugglish performance, an analysis of tax revenue from the Ministry of Finance showed.
-- Private equity fund managers suggested that Shanghai's municipal government introduce policies to attract major private equity firms and experienced managers, in order to promote the development of the sector in the city.
-- China's residential real estate market could remain relatively weak for the rest of this year due to slowing price growth for land-use rights and bank credit controls, a commentary said.
-- Zhongjin Gold Co Ltd (600489.SS) said it planned to acquire two gold mines from its state-owned parent and China's leading gold producer, China National Gold Group.
SHANGHAI SECURITIES NEWS
-- The National Development and Reform Commission has set the on-grid price for output from two solar power stations at 4 yuan per kilowatt hour, including taxes.
-- Haitong Securities Co Ltd (600837.SS) said its first-half net profit fell 1.44 percent to 2.01 billion yuan ($292.9 million), while turnover dropped 14.91 percent to 4.04 billion yuan, reflecting a slumping stock market. The results were in line with initial figures reported on July 22.
SECURITIES TIMES
-- Beijing Shougang Co Ltd (000959.SZ) said on Friday it had obtained confirmation from regulators in Beijing for registration of a cold-rolled steel sheet unit, which will be the only facility the company retains in the capital as it relocates to neighbouring Hebei province.
FINANCIAL NEWS
-- China's insurance regulator warned against irregular activities to attract clients and urged all members not to conduct any business with illegal firms.
-- Experts urged a continuation of current monetary polices after the central bank effectively controlled growth of M2 in July, with a slowdown by 1.02 percentage points from June.
CHINA DAILY (www.chinadaily.com.cn)
-- About 60 percent of provincial and regional government officials' promotions depend on their achievements in saving energy and protecting the environment, not only on economic growth.
-- The growth of China's exports to the United States, China's second-largest trading partner, slowed in the first half of the year. China's exports to the US totaled $116.79 billion, up 8.9 percent from the same period last year. The growth rate was 9 percentage points lower than a year earlier.
-- Two giant pandas, offered as a gift by the mainland to Taiwan in 2005, will travel to the island after an improvement in relations.
PEOPLE'S DAILY
-- An editorial said foreign critics of China have changed their attitude since the opening of the Games. With China's open and sincere attitude, the Games have became a bridge for mutual understanding.
-- The Finance Ministry expects lower fiscal income in the second half of the year after 33.27 percent growth in the first half, particularly since about 95 billion yuan was allocated for reconstruction of quake-hit Sichuan province. ($1=6.862 Yuan) (Compiled by Beijing and Shanghai Newsrooms; Editing by Edmund Klamann)
