June 26, 2014 / 1:50 AM / 3 years ago

PRESS DIGEST- China - June 26

June 26 (Reuters) - Chinese newspapers available in Beijing and Shanghai carried the following stories on Thursday. Reuters has not checked the stories and does not vouch for their accuracy.

SHANGHAI SECURITIES NEWS

- Chinese insurers had 814.1 billion yuan ($131.12 billion) worth of holdings in stocks and equity funds by the end of May, representing 9.82 percent of total assets, 7.9 billion yuan less than a month earlier.

- Tianhong Asset Management Co, controlled by a unit of Chinese e-commerce company Alibaba Group, will soon announce an incentive scheme that would allow its employees to own stocks in the fund manager.

SECURITIES TIMES

- China is actively studying measures that would allow qualified developers of commercial properties to raise money via the debt market, marking a possible easing of financing curbs on property companies.

SHANGHAI DAILY

- Chinese recycling tycoon Chen Guangbiao offered a charity lunch for 1,000 “poor and destitute Americans” in New York on June 25. Each participant was also to receive $300.

- Synthetic drugs have become prevalent in China’s southwestern province of Yunnan, posing a challenge to the government’s anti-drug efforts, experts warned ahead of the International Day Against Drug Abuse and Illicit Trafficking.

For Hong Kong and South China newspapers see..... ($1 = 6.2090 Chinese Yuan Renminbi)

Compiled by Shanghai Newsroom; Editing by Anupama Dwivedi

Our Standards:The Thomson Reuters Trust Principles.
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