PRESS DIGEST - China - Nov 5
BEIJING/SHANGHAI, Nov 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
-- A Chinese property developer won a bid for a plot of land close to the proposed Shanghai Disney theme park in an auction on Wednesday at a price of 1.19 billion yuan ($174.3 million), or more than 14,000 yuan per square meter, nearly fourfold the base price.
-- The China Securities Regulatory Commission has ruled that the watchdog's officials are prohibited from immediately joining companies being monitored by the commission after they quit.
-- Export volume of the recent China Import and Export Fair, known as Canton Fair, reached $30 billion, up 16 percent from the fair held early this year.
-- Shanghai will launch real estate investment trusts, or REITs, by the end of this year, an industry source familiar with the situation said.
SHANGHAI SECURITIES NEWS
-- The total land area of the proposed Shanghai Disney theme park will reach 107 square kilometres, with an investment of 24.5 billion yuan for the first phrase, a source familiar with the situation said.
-- A unit of China Pacific Insurance (Group) (601601.SS), China's third-largest life insurer, recently won regulatory approval to take over a stake in Changjiang Pension Insurance Co Ltd.
SECURITIES TIMES
-- Xiong Bilin, a senior official with China's National Development and Reform Commission, said on Wednesday that the central government would issue detailed regulations to curb industrial overcapacity by the end of the year.
CHINA BUSINESS NEWS
-- China is considering easing regulations which forbid foreign firms from taking a controlling stake in domestic steel mills, a source familiar with the situation said.
CHINA DAILY (www.chinadaily.com.cn)
-- Chinese writers said they appreciated search engine firm Google's (GOOG.O) move to talk with them, but maintained their demand for an apology over copyright violation involving scanning of books into its online library.
PEOPLE'S DAILY
-- China has started to build a second railway linking the remote Xinjiang region with Gansu province, a gateway to China's flourishing eastern region.
