January 14, 2014 / 1:40 AM / 4 years ago

PRESS DIGEST - China - Jan 14

Jan 14 (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.


- The China Insurance Regulatory Commission said it was seeking opinions on insurance fund management and was considering raising the investment ratio for insurance companies in capital markets.

- China’s ICBC plans to issue 100 billion yuan ($16.55 billion) worth of interbank deposit in 2014, according to company announcement.


- Shanghai’s vice mayor said that the Shanghai free-trade zone will allow exchange of the yuan as part of a bold push to reform the world’s second largest economy.


- Shanghai Zhenhua Heavy Industries Co Ltd said it has made an offer for JJ Sietas Schiffswerft, a Hamburg-based shipyard, as part of its drive to diversify and expand its maritime engineering business.

- China Investment Corp, the country’s $575 billion sovereign wealth fund, favours European infrastructure and real estate because developed markets will drive the next phase of the global economic recovery, CIC Chairman Ding Xuedong said, adding that the United States will also remain a focus for the Beijing-based fund.


- Shanghai residents spent an average of 31,018 yuan last year through Alipay, a third-party payment service founded by China’s largest e-commence company Alibaba . Their expenditure accounted for 9.3 percent of the total spending in the country last year.


- Chinese citizens should focus on progress while authorities should work on solutions for problems, said a commentary in the paper that acts as the Party’s mouthpiece.

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

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