July 31, 2013 / 1:32 AM / 4 years ago

PRESS DIGEST - China - July 31

SHANGHAI, July 31 (Reuters) - Chinese newspapers available in Beijing and Shanghai carried the following stories on Wednesday. Reuters has not checked the stories and does not vouch for their accuracy.

CHINA SECURITIES JOURNAL

-- The China Banking Association revealed in a report released on Tuesday that the profit growth of listed banks this year is likely to fall to roughly 8 percent, amid a fluctuating and complex economic environment and tighter regulatory control.

-- China’s property prices are not determined by the money supply, but rather the supply and demand of real estate, according to Shengsong Cheng, head of the People’s Bank of China’s statistics division.

-- Sinopec plans to invest 22.87 billion yuan ($3.73 billion) in environment protection measures in the next two years, putting into effect 803 projects.

SHANGHAI SECURITIES NEWS

-- China will expand simulation testing for listed domestic brokerages to include small and medium-sized institutions in August, with a threshold tentatively set at 500,000 yuan, according to various sources with knowledge of the matter.

CHINA DAILY

-- An explosion at a chemical plant in Fujian province will renew public fear of chemical projects, experts said. A cracked hydrogen pipeline caused fire during a pressure test at a paraxylene factory in Zhengzhou, destroying pipelines but no casualties or pollution has been reported.

PEOPLE‘S DAILY

-- The State Administration of Industry and Commerce released a report on Wednesday which showed that at the end of 2012, almost 50 percent of China’s 13 million private enterprises were five years old or less.

For Hong Kong and South China newspapers see.....

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