PRESS DIGEST - China - Sept 19
BEIJING/SHANGHAI, Sept 19 (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
-- Li Kemu, vice chairman of the China Insurance Regulatory Commission, said American International Group Inc's (AIG.N) life and property insurance units in China were operating normally, after an $85 billion rescue plan from the U.S. Federal Reserve. The commission will closely monitor AIG's situation and take immediate measures to protect insurers' interests if any abnormalities in AIG's operations are found.
-- BOC International (China) Ltd has obtained regulatory approval to set up a 300 million yuan ($43.9 million) private equity investment unit.
-- China collected 3.23 billion yuan in stock stamp taxes in August, down 89.8 percent from a year earlier, due to stock market sluggishness.
SHANGHAI SECURITIES NEWS
-- A China Banking Regulatory Commission official said that, judging from commercial banks' disclosures so far on holdings of bonds from failed Lehman Brothers (LEHMQ.PK), while some may see a certain degree of investment losses, they were sufficiently prepared to deal with their exposure.
-- AIG-Huatai Fund Management Co, a China venture venture of American International Group Inc, said AIG's financial condition would not have any impact on its Asia operations or AIG-Huatai's business.
-- China Life Insurance Co Ltd (601628.SS) (2628.HK), the country's top life insurer, said its premiums totalled 225.2 billion yuan for the first eight months of the year. ($1=6.834 Yuan) (Compiled by Beijing and Shanghai Newsrooms; Editing by Edmund Klamann)
