April 15, 2014 / 2:20 AM / 4 years ago

PRESS DIGEST - China - Apr 15

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.


- Further reform of real estate markets calls for a long-term mechanism to increase supply, instead of short-term stimulus, an editorial said, commenting on rumours that restrictions on property development are likely to be eased at local level.

- The China Insurance Regulatory Commission (CIRC) is going to explore multiple channels to fulfill the financing needs in infrastructure construction in the urbanisation process, including using preferred shares, said Wang Zuji, vice chairman of the CIRC.


- Sources said China’s insurance regulators are conducting the first round of inspections into domestic companies’ investment risks within the insurance industry, in particular possible inside trading.


- Analysts expect the economic growth rate for the first quarter of 2014 to come in around 7.5 percent.


- China’s local governments have been relying too much on income generated by selling lands, with Zhejiang and Tianjin paying off two thirds of governments’ debts through land sales in 2012, according to auditing data released by provincial governments.


- The capacity of Pudong International Airport’s Terminal-1 will rise to 36 million passengers a year from the current level of 20 million with the addition of a whole new floor to be undertaken. This major project is set to get under way this year, said the Shanghai Airport Authority.


- “After the first round of ballyhoo, the China (Shanghai) Pilot Free Trade Zone (FTZ) has not yet excited enterprises with any tangible breakthrough,” wrote an editorial blaming the Shanghai municipal government for the failure of the FTZ to attract investor interest by enacting significant reforms.


- China’s Central Commission for Discipline Inspection and Supervision Department made public of 220 cases of CCP members’ misbehaviour from April 8 to 11, with their names posted on the department’s website. It has recently opened a reporting channel for Internet users to facilitate the supervision and punishment over the party members.

For Hong Kong and South China newspapers see..... (Reporting by the Shanghai Newsroom)

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