September 3, 2014 / 2:10 AM / in 3 years

PRESS DIGEST-China - Sept 3

Sept 3 (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.

SHANGHAI SECURITIES NEWS

- Shanghai plans to consolidate the city’s media sector by merging Bestv New Media Co Ltd and Shanghai Oriental Pearl Group Ltd, while injecting other unlisted media assets into the combined, listed company.

- Sohu.Com Inc has forayed into Internet financing by setting up a platform that facilitates lending between individuals and small- and medium-sized companies.

- China Securities Regulatory Commission spokesman Deng Ke said the recent strength in the country’s stockmarket reflects improvements in the environment, including a stabilising economy, ample liquidity, effects of capital market reforms and lowering financing costs.

SECURITIES TIMES

- China’s anti-monopoly watchdog slapped fines worth 110 million yuan ($17.8 million) on 23 property insurers over price-fixing. The National Development and Reform Commission said 23 insurers in China’s eastern Zhejiang province were found to have colluded on discounts on car insurance premiums during multiple meetings organised by the Zhejiang insurance association.

For Hong Kong and South China newspapers see..... ($1 = 6.1415 Chinese yuan) (Compiled by Samuel Shen and John Ruwitch in Shanghai; Editing by Prateek Chatterjee)

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