March 31 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
CHINA SECURITIES JOURNAL
-- A study of 1,731 Chinese fund firms showed they made a
collective profit of 168.7 billion yuan ($27.16 billion) in
2013, up 36.5 percent from a year earlier, according to data
from TX Investment Consulting. Mixed funds showed strong growth,
while debt-based and capital guarantee funds slipped.
SHANGHAI SECURITIES NEWS
-- The Chinese government's real estate policy has shifted
focus from curbing the rapid rise in house prices to helping the
poor buy homes, according to Xu Shanda, former deputy head of
China's tax bureau.
-- Baoshan Iron & Steel Co Ltd has launched a
stock incentive plan that will award 47.5 million shares to its
managers and some employees, part of a wider reform of China's
-- The biggest non-life insurance joint venture in China -
between French insurer Axa SA and China's Tian Ping
Auto Insurance - officially opened for business on Monday.
-- China's government is seeking measures to tackle a rising
divorce rate. The country sees nearly 10,000 marriages break up
every day, according to the social affairs unit at the Ministry
of Civil Affairs. More than 3 million people sought divorce in
2012, a 133 percent increased against 2003.
-- China's big five banks posted a combined net profit of
862.8 billion yuan ($138.89 billion) in 2013, an average yearly
growth rate of 11 percent, analysts told the paper. Profit
growth at the five banks is likely to slow to under 10 percent
this year, they added.
For Hong Kong and South China newspapers see.....
($1 = 6.2122 Chinese Yuan)
(Reporting by Samuel Shen and Adam Jourdan in Shanghai; Editing
by Anupama Dwivedi)