SHANGHAI Nov 11 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
- A commentary by the mouthpiece of the ruling Communist
Party of China (CPC) said the country's new leadership has
launched a slew of innovations aimed to building up a democratic
political system since they came into power a year ago. The
commentary was issued as the party is convening a crucial
central commission plenum.
- China will take major steps to reform its gigantic
state-owned enterprises, allowing private capital to have easier
access to invest in the state sector, after the four-day Third
Plenum of the CPC's 18th Central Committee, which started on
Saturday, said Huang Shuhe, vice-chairman of the State-owned
Assets Supervisions and Administration Commission.
SHANGHAI SECURITIES NEWS
- Chongqing Iron and Steel Co said the
China Securities Regulatory Commission (CSRC) has approved its
plans to issue new shares to its parent and other parties to
raise money to buy new assets from its parent, a move expected
to narrow its losses sharply next year.
- Oil giant Sinopec Corp said its
parent on Friday bought back 39 million yuan-denominated A
shares. The parent last week announced a plan to spend an
estimated maximum of $17.7 billion to buy back a 2 percent stake
in Sinopec's Shanghai-listed entity over the next year, in a
move to support the mainland's sagging stock market.
CHINA SECURITIES JOURNAL
- China has quietly opened the second-batch tenders for
high-speed trains this year worth an estimated 56-57 billion
yuan ($9.18-$9.34 billion). The country in August lifted a
suspension of tenders of high-speed trains imposed after a crash
that killed dozens of passengers in 2011.
- A total of 757 companies are now on the waiting list to
launch initial public offerings (IPOs) in the mainland's stock
exchanges, CSRC data shows. China quietly suspended IPOs one
year ago to help check a slide in the domestic stock market
- The Shenzhen Stock Exchange will blacklist those companies
that announce poorly conceived merger and acquisition plans
aimed at boosting their own share prices.
- An editorial by a senior editor criticized Hangzhou-based
Alibaba Group's IPO strategy in Hong Kong, saying Hong Kong was
right to reject Alibaba's proposal to list under a tiered share
structure that would allow management and preferred shareholders
to retain control after listing, in contravention of the Hong
Kong Exchange's rules.
For Hong Kong and South China newspapers see.....