BEIJING/SHANGHAI Aug 7 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
-- Shanghai Stock Exchange is planning to improve and fine
tune delisting rules to deter speculation and restore confidence
in the stock market.
SHANGHAI SECURITIES NEWS
-- Citigroup Inc, the third-largest U.S. bank by
assets, has started an investment banking joint venture with
China's Orient Securities Co to gain access to the world's
second-biggest market for share sales. The venture, to be called
Citi Orient Securities, will be based in Shanghai and has a
registered capital of 800 million yuan ($126 million).
-- China's two cross-border exchange-traded funds (ETFs)
have raised a combined 5.5 billion yuan ($862.85 million). China
Asset Management Co has raised 3.5 billion yuan for its ETF
tracking the Hang Seng Index, while the Hong Kong-based E
Fund Management Co Ltd has raised about 2 billion yuan for its
ETF tracking the Hang Seng China Enterprises Index.
-- Shanghai is expected to have serious downpours and gales
between tonight and Thursday as typhoon Haikui approaches,
authorities warned. The city has also relocated over 200,000
people to avoid risks, Xinhua news agency reported yesterday.
-- Shanghai's existing property sales climbed above 20,000
unit threshold again in July, thanks to robust demand from
locals, according to a market report. Purchases of resale
residential properties rose 9.4 percent from June to 21,000
units, extending growth for the third straight month.
-- The building of China's first submersible support vessel
"Deep Dive" was completed on Monday in Qingdao and was delivered
to the Ministry of Transport for usage. It can work under water
at the maximum depth of 300 meters.
CHINA DAILY (www.chinadaily.com.cn)
-- Four proposed amendments to the Labor Contract Law have
received a massive amount of public interest, with a record
number of people contacting authorities to have their say on the
law, according to the website of the National People's Congress.
-- China's corporate debt ratios have reached "dangerous
levels" according to leading economists. The Chinese Academy of
Social Sciences, a top government think tank, has warned that
further stimulus policies could add to the already heavy burden
of the corporate debt that is weighing on the world's
For Hong Kong and South China newspapers see.....