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PRESS DIGEST-China - Aug 26
August 26, 2014 / 2:55 AM / in 3 years

PRESS DIGEST-China - Aug 26

SHANGHAI, Aug 26 (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.


- Inner Mongolia Baotou Steel Rare-Earth Group Hi-Tech Co Ltd plans to invest nearly 8 billion yuan ($1.30 billion) to tackle environmental problems at its smelting plants and Baotou Huamei Products Co Ltd, the company said in an announcement late on Monday.


- China’s insurance funds have shown growing interest in the primary market’s non-public offering on the back of increased funding activities. Their interests also reflect a structural change in the insurance industry that could bring a new group of institutional investors in the stock market, the paper said in a commentary.

- Jiangsu Hengli Highpressure Oil Cylinder Co Ltd plans to acquire a 51 percent stake in a European counterpart in the amount of 2.5 million euros ($3.3 million), according to a company announcement.


- Some 42 companies planning initial public offerings (IPO) have been blacklisted for six months due to breach of conduct, according to a report by the Securities Association of China.


- Alipay, China’s largest online payment provider, announced on Monday the official launch of Zhaocai Bao, an Internet finance platform that aims to reshape financing for small businesses to the tune of 1 trillion yuan ($162 billion) within 3 years.

- Chinese nuclear companies are preparing to export nuclear power reactors as they increase involvement in foreign projects and establish a complete industry chain, company officials and engineers said. Exporting plants will help domestic manufacturers improve their technology levels and recover the huge costs of research and development.


- Sales of new homes in Shanghai in August are likely to be very sluggish after seven-day transactions remained below 150,000 sq m for the third straight week. Purchases of new homes, excluding government-funded affordable housing, fell 0.98 percent to 129,700 sq m last week, Uwin Real Estate Information Services Co said in a report.

For Hong Kong and South China newspapers see..... (1 US dollar = 0.7584 euro) (1 US dollar = 6.1540 Chinese yuan) (Reporting by Shanghai Newsroom; Editing by Prateek Chatterjee)

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