May 8 Chinese newspapers available in Beijing
and Shanghai carried the following stories on Wednesday. Reuters
has not checked the stories and does not vouch for their
CHINA SECURITIES JOURNAL
- Average wholesale prices of 18 vegetables in 36 big
Chinese cities fell 5.4 percent between April 29-May 5 from the
prior week. Egg retail prices slipped 0.4 percent from a week
ago while pork wholesale prices dipped 0.6 percent, data from
the Ministry of Commerce showed.
- Air China Ltd , Asia's second-largest
airline by market value, and its subsidiary will jointly buy 100
aircraft, it said in an exchange statement on Wednesday.
SHANGHAI SECURITIES NEWS
-- China's entrepreneurial hub of Wenzhou has submitted to
the local finance authorities a proposal to regulate private
lending. Some of the proposed measures include making it
mandatory for individuals and private companies to register
lending of above 2 million yuan ($325,000) and 5 million yuan
-- Four banks in Jiangsu province that are planning to list
saw their net profit rise over 10 percent in 2012. But their
non-performing loans have also surged, with Jiangyin Rural
Commercial Bank and Jiangsu Wujiang Rural Commercial Bank
posting a 177 percent and 159 percent jump in bad debts
-- Privately-held wealth on the Chinese mainland hit 8-
trillion yuan in 2012, with more than 700,000 individuals now
holding 10 million yuan or more in investable assets, more than
double the number at the end of 2008, according to a report by
China Merchants Banks and U.S. consulting firm Bain and Co.
-- China's solar panel exporters see tougher times ahead as
the European Union moves closer to imposing punitive duties on
Chinese exports. Industry officials said Chinese firms will lose
their competitive edge over European counterparts if they are
slapped with duties of above 20 percent.
-- Pudong New Area's environment watchdog is investigating
an industrial zone in Hangtou Town after about 300-meter stretch
of a river there turned blue. Pictures posted by residents
online showed blue sewage was being discharged from rain water
pipes into the river. Some amount of oil slick was also found on
the surface of the water.
-- China has ordered greater scrutiny of bond sales by local
government finance vehicles with higher levels of debt, people
with knowledge of the matter said. The National Development and
Reform Commission, which approves bond sales by local government
firms to finance projects, will more strictly review application
for debt with debt-to-asset ratios exceeding 65 percent.
- The implanting of early rice in China is estimated to rise
1.13 million Mu from last year to 87.61 million Mu this year.
For Hong Kong and South China newspapers see.....