UPDATE 1-PRESS DIGEST - China - April 15

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BEIJING/SHANGHAI, April 15 (Reuters) - Chinese newspapers available in Beijing and Shanghai carried the following stories on Tuesday. Reuters has not checked the stories and does not vouch for their accuracy.

CHINA SECURITIES JOURNAL

-- Weakness in the contribution of net exports to economic growth in the first quarter of this year, for the first time in four years, indicates there is not likely to be continued heavy macroeconomic adjustment, with an interest rate hike unlikely in April, oberservers say.

-- Fourteen banks listed on the A-share market posted an average 71.8 percent rise in net profit in 2007, a record gain, but industry insiders expect profit growth could slow this year to about 40 percent.

-- Steel industry profits rose slightly in the first quarter from the previous quarter but the second quarter is likely to mark the peak in profits for the year, analysts said.

SHANGHAI SECURITIES NEWS

-- Neither the central bank nor banking regulators have imposed fresh curbs on property lending, although the central bank's Shanghai branch has begun a survey of the city's property and mortgage lending, which may have spurred the market talk of further tightening in property lending. That talk helped to spark a more than 5 percent drop in the Shanghai benchmark index .SSEC on Monday.

-- China's Panzhihua Iron and Steel Group, whose group includes PZH Steel 000629.SZ, received approval from the State-owned Assets Supervision and Administration Commission for a plan to integrate the group and list its shares. The proposal will still require approval from shareholders and the stock regulators.

-- Hubei Energy Group Co Ltd's general manager said the power company plans to list domestic A shares this year and raise 3.6 billion yuan ($514 million). The company has begun shedding non-core assets in preparation for the move.

CHINA BUSINESS NEWS

-- China's move to establish a market for start-up stocks is proceeding according to plan and there have been no delays, a China Securities Regulatory Commission official said, after a media report said there may be delays.

-- Unilever (ULVR.L) (UNc.AS) has decided to build a production base in western China no later than next year as sales to the region expand.

FINANCIAL NEWS

-- The Agricultural Bank of China has set up three internal divisions to increase support for agricultural production and the countryside.

-- China Banking Regulatory Commission chairman Liu Mingkang told the postal saving bank to become a good retailing bank, taking advantage of its extensive outlet network.