(Corrects to clarify that China Daily article said WeChat was
offline for several hours, not 24 hours)
July 23 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
CHINA SECURITIES JOURNAL
- The National Development and Reform Commission has
approved the issuance of an 8.5 billion yuan ($1.38
billion)corporate bond by Hubei Provincial Communications
Investment Co Ltd, which has by far the largest bond budget
across the highway construction industry.
- Premier Li Keqiang said at a State Council meeting last
week that China would not permit economic growth to sink below 7
percent, the paper reported, without citing sources.
SHANGHAI SECURITIES NEWS
- Preparations to liberalise China's insurance rates are
nearly complete and should be implemented soon, unnamed sources
with knowledge of the situation said.
- Popular cellphone messaging app WeChat, run by China's
largest internet company by market capitalisation Tencent
Holdings, was offline for several hours on Monday. Tencent
blamed a hardware breakdown.
- China is predicted to elbow past the U.S. this year to
become the largest market for express deliveries, according to
Ma Junsheng, director-general of the State Post Bureau of China,
at an internal conference on 18 July, as express delivery
volumes grew more than 50 percent year-on-year in each of the
past 28 months.
- The Apple Store on Shanghai's Huaihai Road has stopped
accepting online reservations for repairs to prevent repairmen
from other cities without Apple Stores from monopolising the
queue, but the result has been long lines and cranky customers.
- Establishing more small community banks could benefit the
real economy in China as misallocation of resources toward
speculation has made capital more expensive for many small and
medium-sized enterprises, the newspaper said in an editorial
For Hong Kong and South China newspapers see.....
($1 = 6.1413 Chinese yuan)
(Compiled by Shanghai Newsroom; Editing by Anand Basu)