October 30, 2013 / 1:31 AM / in 4 years

PRESS DIGEST- China - Oct 30

Oct 30 (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.


- The net profit of 116 Chinese property companies increased 30.6 percent in the first nine months of this year, according to Wind, a financial data provider.


- China Development Bank Corp is working with local governments and enterprises to review re-mortgage financing issues of photovoltaic power plants, according to sources. The bank is developing new finance rules to address industry financing difficulties, they said.


- China Vanke Co Ltd confirmed on Tuesday that it will buy up to HK$3 billion ($386.9 million) worth of shares in the Hong Kong IPO of Huishang Bank, making it the largest shareholder.


- China’s central bank has set up a firewall that can distinguish between accounts set up within and outside of Shanghai’s pilot free-trade zone so that authorities can monitor transactions in real time, said Li Xunlei, chief economist at Haitong Securities.


- Sixteen percent of Chinese households have had their homes demolished or seized during China’s urbanization drive, but few have received support in gaining employment or access to social security services, a survey of some 12,500 people nationwide showed.

Less than 80 percent of those who had land seized said they received compensation, while 94 percent of those whose homes were demolished had received compensation.

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

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