April 24, 2014 / 1:26 AM / in 4 years

PRESS DIGEST- China - April 24

April 24 (Reuters) - Chinese newspapers available in Beijing and Shanghai carried the following stories on Thursday. Reuters has not checked the stories and does not vouch for their accuracy.


- Another 10 companies have announced plans to list on China’s equity markets, bringing the total number of firms planning listing to 75.

- Total profit of state-owned companies reached 311 billion yuan ($49.86 billion) in the first quarter of this year, up 3.4 percent from a year earlier, the State-owned Assets Supervision and Administration Commission said.


- The China Securities Regulatory Commission said it would perform random checks on companies seeking initial public offering to ensure that the information disclosed in their prospectus are accurate.

- China State Construction Engineering Corp’s 2013 net profit rose 29.6 percent to 20.4 billion yuan ($3.27 billion) and said it expects newly signed contracts in 2014 to reach more than 1.2 trillion yuan.


- There will be an oversupply of office space in China in the coming three years, with second-tier cities being hit first, industry analysts said.

- China’s household consumption may rise to as high as 50 percent of gross domestic product by 2020, compared with 35 percent today, findings from Nielson Holdings BV showed. The increase will create investment opportunities in second-and third-tier cities.


- China is on track to meet mandatory targets on cutting pollution and improving energy efficiency by 2015, a state planning official said, after the program had fallen behind due to strong economic growth in 2011 and 2012.

For Hong Kong and South China newspapers see..... ($1 = 6.2376 Chinese Yuan) (Compiled by Shanghai Newsroom; Editing by Anand Basu)

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