PRESS DIGEST - China - Aug 10

BEIJING/SHANGHAI, Aug 10 (Reuters) - Chinese newspapers available in Beijing and Shanghai carried the following stories on Monday. Reuters has not checked the stories and does not vouch for their accuracy.

FINANCIAL NEWS

-- China will stick to its proactive fiscal policy and accommodative monetary policy as economic challenges such as falling overseas demand persist, Premier Wen Jiabao said on Sunday.

-- China will publish a development plan for new energy sources before the year end which includes clean utilisation of coal and renewable energy resources such as wind and solar, a senior energy official said on Sunday.

CHINA SECURITIES JOURNAL

-- China's economy has staged a V-shaped recovery, with the consumer and producer price indexes expected to begin rising again in the fourth quarter, according to Ba Shusong, a senior researcher at the Development & Research Centre under the State Council. Ba suggested that China should prepare for an exit from its current loose monetary policy.

-- Yantai Changyu Pioneer Wine Co Ltd 000869.SZ200869.SZ said its first-half net profit rose 14.15 percent from a year earlier to 455 million yuan ($66.6 million), on sales that grew 8.14 percent to 1.97 billion yuan.

SECURITIES TIMES

-- Evergrande Real Estate Group has submitted applications to the Hong Kong stock exchange seeking an initial public offering in September or October to raise $1 billion to $1.5 billion.

CHINA BUSINESS NEWS

-- SAIC-GM-Wuling, General Motors' [GM.UL] commercial vehicle venture in China which makes minivans, pickup trucks and compact cars, plans to make more expensive passenger cars in the future, company spokeswoman Cai Yanan said.

CHINA DAILY (www.chinadaily.com.cn)

-- China has invested 71.6 billion yuan in health care since April, part of an 850 billion yuan reform package that would include 90 percent of the country's population under a basic medical insurance scheme by 2011.

PEOPLE'S DAILY

-- Over one-half of China's new lending in the first half of this year was used to finance transportation, power and water facilities, the China Banking Regulatory Commission said.

-- Electricity consumption in northwestern China increased 5.13 percent from a year earlier to 24.4 billion kilowatt hours in July, the first increase after nine months of negative growth. (Compiled by Beijing and Shanghai Newsrooms; Editing by Edmund Klamann)