May 20 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 will embrace international cooperation in energy, with an improvement in supply capability and development in the downstream industries including pipeline construction, oil-gas storage and product sales to be expected, analysts said. The development follows the news that Russian President Vladimir Putin hopes to sign a multi-billion dollar gas agreement with China during a two-day visit that kicks off on Tuesday .
- The ongoing ownership reform of China's state-owned enterprises (SOEs) should not serve as a means for SOEs to offload bad assets, but as a way to attract profitable investment from private capital, an editorial said.
SHANGHAI SECURITIES NEWS
- China is going to systematically push forward its capital market reform process to achieve the long-term effect of reform, said chief securities regulator Xiao Gang.
- China has moved forward on upgrading its "third board" over-the-counter market by implementing a trade settlement system.
- The Shanghai Shipping Insurance Association has been granted permission by the China Insurance Regulatory Commission (CIRC) to be treated as an industry association instead of an individual company.
- China's army purchased more than 1,000 domestically manufactured Hongqi (Red Flag) H7 cars, following instructions issued by the military - approved by Xi Jinping and the Central Military Commission - in January that said the armed forces were required to buy domestic auto brands as part of the nationwide drive to cut waste.
- Shanghai will accelerate economic restructuring, deepen reforms and encourage innovation to sustain the city's status as a leader in China's growth and development, Shanghai Vice Mayor Tu Guangshao told a media briefing ahead of the Asian summit.
For Hong Kong and South China newspapers see..... (Compiled by Shanghai Newsroom; Editing by Anand Basu)