PRESS DIGEST - China - July 21

BEIJING/SHANGHAI, July 21 (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.

SHANGHAI SECURITIES NEWS

-- China's yuan will generally continue its uptrend in the near term but there may be expectations for yuan depreciation as early as the end of this year, unnamed market analysts said. The yuan's exchange rate is gradually approaching its equilibrium and could eventually become a truly flexible currency moving in both directions, analysts said.

-- China will make efforts to support small firms' funding needs, especially those from earthquake-stricken areas, the country's top banking regulator Liu Mingkang said.

-- The state parent of China's No.2 cement maker China National Building Material Co (3323.HK) has signed an agreement with major cement makers in the northwestern province of Gansu to help upgrade the province's cement facilities.

-- Shanghai Electric's (2727.HK) plan to buy out its mainland-listed unit Shanghai Power Transmission & Distribution Co 600627 will be reviewed by China's securities regulator soon, Shanghai Power said.

-- The World Trade Organisation's ruling against China over import tariffs for car parts will not have a major impact on China's auto industry, analysts said.

CHINA SECURITIES JOURNAL

-- A total of 362 funds managed by 59 Chinese fund management firms reported a combined loss of 413.88 billion yuan ($60.71 billion) in the second quarter, according to their quarterly financial results.

-- Chinese electric appliance maker Meiling has been put up for sale by its state-run parent on the property exchange in the eastern city of Hefei for 358.18 million yuan.

-- Shareholders have approved Chinese home appliance maker Qingdao Haier Co's (600690.SS) plan to buy a 20.1 percent stake in its Hong Kong-listed sister firm Haier Electronics Group (1169.HK) from Deutsche Bank (DBKGn.DE) for HK$776 million ($99.52 million).

-- Hunan Jinguo Industrial Co 000722.SZ plans to issue new shares worth 1.6 billion yuan to three individuals in a private placement in exchange for mining rights to an iron mine in central China's Henan province.

SECURITIES TIMES

-- China should keep its money supply under control given the country's high consumer prices, government economist Fan Gang said, adding that fighting inflation was the government's top priority.

-- China's banking regulator has imposed stricter approval procedures for loan applications from export-oriented firms in the wake of bankruptcies of many such firms. ($1=6.816 Yuan) ($1=7.797 Hong Kong Dollar) (Compiled by Beijing and Shanghai Newsrooms; Editing by Edmund Klamann)