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PRESS DIGEST-UPDATE 1- China - Nov 10

Mon Nov 9, 2009 8:48pm EST

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China  |  Basic Materials

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

CHINA SECURITIES JOURNAL

-- China's 109 mutual funds launched so far this year have raised 270 billion yuan ($39.6 billion), far exceeding last year's total of 203.3 billion yuan, but lags the 500 billion yuan raised during the bull market in 2007.

-- China Nonferrous Metal Industry's Foreign Engineering and Construction Co Ltd (000758.SZ) plans to invest $500 million building an alumina plant in Laos though a joint venture with LSI.

-- China State Construction Engineering Corp (601668.SS) posted a 83.2 percent jump in property sales in the first 10 months to 41 billion yuan.

-- The People's Insurance Company (Group) of China (PICC) Chairman Wu Yan said the company had started investing in real estate, and planned to enter new businesses including trust.

SHANGHAI SECURITIES NEWS

-- Poly Real Estate Group Co Ltd (600048.SS) posted a 143.17 percent surge in contract property sales in the first 10 months to 36.86 billion yuan.

SECURITIES TIMES

-- Industrial and Commercial Bank of China (1398.HK) has boosted its stake in the China fund venture with Credit Suisse, to 75 percent from 55 percent, after buying a 20 percent stake from COSCO Group for 258.2 million yuan.

CHINA DAILY (www.chinadaily.com.cn)

-- The number of female applicants to the People's Liberation Army (PLA) surged by 300 percent in this year's recruitment, with many women saying they were inspired by the Oct. 1 National Day parade.

-- China's auto sales in October rose 72 percent from a year earlier to 1.22 million units on the back of strong domestic demand boosted by government stimulus measures.

-- A Chinese vice foreign minister on Monday called for international cooperation in fighting corruption amid the ongoing global financial crisis.

PEOPLE'S DAILY

-- Houses of detention have to guarantee detainees no less than 2 hours outdoors every day and must not force them to work, according to draft regulations on detention issued by the State Council of China.

-- The construction of the world's highest suspension bridge, over a 560-metre deep gorge, was finished in Badong county, Hubei Province.

-- An unusual brown giant panda was found in Shaanxi, the fifth recorded in history.

China
Basic Materials


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