SHANGHAI May 12 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
- To lower the risk of terror attacks, Beijing authorities
are requiring bulk purchasers of gasoline to provide
identification, acquire permits from local police stations and
use approved containers, a notification said.
- Proper communication between the local government in the
Hangzhou suburb of Yuhang and residents in the area could have
prevented a public protest over the planned construction of a
garbage incinerator from turning into a riot in which police
vehicles were flipped and torched, an editorial said.
CHINA BUSINESS NEWS
- The People's Bank of China (PBOC) will not rashly cut
banks' required reserve ratio despite market speculation on such
a cut to boost the slowing economy because the central bank is
using the reserves to help offset heavy capital inflows into
China, said Wu XiaoLing, a former PBOC deputy governor.
SHANGHAI SECURITIES NEWS
- After a pause of 10 years, the State Council, China's
cabinet, issued a broad range of capital market reforms on
Friday, paving the way for a new phase of quick reforms of the
country's markets, a commentary by this newspaper said.
- The China Financial Futures Exchange plans to gradually
launch a slew of new products, including stock options and new
stock index futures contracts, as part of the government's
efforts to push forward capital market reforms, exchange
Chairman Zhang Shenfeng told a financial industry forum in
Beijing at the weekend.
CHINA SECURITIES JOURNAL
- A total of 1,559 institutions have registered as private
equity (PE) management companies since regulators permitted PE
firms to operate officially by registration in March. Such firms
had previously operated in legal grey areas in China.
- A police officer shot a driver allegedly trying to smash
his way through a roadblock on Sunday, the first shots fired
since Shanghai police began carrying guns last month. The
suspect was said to be part of a gang of fuel thieves, police
- Nineteen listed firms have suspended their plans to issue
corporate bonds so far this year due to high yields resulted
from the central bank's relatively tighter liquidity stance.
- The coming CICA (the Conference on Interaction and
Confidence-Building Measures in Asia) summit to be held in
Shanghai around May 20 will help promote trust among China and
other Asian countries.
For Hong Kong and South China newspapers see.....
($1 = 6.228 Chinese yuan)
(Reporting by Shanghai Newsroom; Editing by Subhranshu Sahu)