May 5 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
SHANGHAI SECURITIES NEWS
- Combined first-quarter profit of 2,534 listed companies
was up 8.08 percent from the same quarter last year, data
compiled by the newspaper showed. The figure was down from 10.7
percent in the first quarter of last year. Meanwhile, revenue
was down 13.44 percent in the first three months of the year
compared with the same period last year.
- The China Insurance Regulatory Commission has published
draft rules that would classify insurers' assets into five
categories based on risk levels.
- China's eastern province of Jiangsu is discussing whether
the current business model of market making in precious metals
should be banned.
- Total assets of China's fund industry exceeded 6 trillion
yuan ($958.57 billion) in the first quarter.
- Anti-narcotics officers uncovered 1,491 transnational drug
smuggling cases last year, an increase of 14.5 percent from the
previous year, with most suspects caught in the southern
provinces of Guangdong and Yunnan, the police ministry said.
($1 = 6.2593 Chinese Yuan)
(Reporting by the Shanghai Newsroom; Editing by Subhranshu