SHANGHAI Nov 15 Chinese newspapers available in
Beijing and Shanghai carried the following stories on Friday.
Reuters has not checked the stories and does not vouch for their
CHINA SECURITIES JOURNAL
- Everbright Securities Co Ltd announced on
Thursday that it would be fined a total of 523 million yuan
($85.85 million) for insider trading during the "Aug 16
incident." The four people responsible will be fined 600,000
yuan each and prohibited from trading, while the chairman
secretary will be fined 200,000 yuan.
A glitch in Everbright's computer system caused an
unintended placement of buy orders worth 68.6 billion yuan
($11.2 billion) to the Shanghai stock exchange on Aug. 16 and
led to a massive but short-lived jump in the country's main
SHANGHAI SECURITIES NEWS
- China's "third board" over-the-counter equity exchange
platform is set to expand and roll out new policies to make
listing, buying and selling stakes in companies on the platform
as "convenient as stocks."
- Reform now faces unprecedented resistance in the
"deepwater zone," where a combination of convoluted vested
interests, such as local protectionism, departmentalism and
special interest groups threaten to thwart all the major reforms
society badly needs said a commentary in the paper.
- Long-anticipated natural gas shortages have already begun
to impact Chinese manufacturers, with PetroChina Co Ltd
moving to cut off supply to a chemical fertiliser
company in Hunan proving to preserve supply for residential
users for the upcoming winter. An official said cities where the
"coal-to-gas" initiative had been implemented, intended to
migrate consumers from polluting coal to cleaner gas, would be
hardest hit by shortages.
- China should focus on creating a fairer and more just
social environment, said a commentary in the paper that acts as
the party's mouthpiece.
For Hong Kong and South China newspapers see.....