August 28, 2014 / 1:25 AM / in 3 years

PRESS DIGEST - China - Aug 28

SHANGHAI, Aug 28 (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.


- Yu Shengfa, vice president of e-commerce giant Alibaba’s IPO-BABA.N future financial company, said the company has submitted applications to related regulators to set up “Ali Bank” which could be approved in September.


- Shanghai’s municipal government has published a document outlining its strategies to develop the city into a global trading centre, including plans to build international trading platforms for commodities such as natural gas and iron ore in its free-trade zone.


- China could implement real estate registration system in 2017, said Leng Hongzhi, an official at the Ministry of Land and Resources.


- Lenovo Group Ltd will soon settle a year-old class action lawsuit over laptop malfunctions in the United States for approximately $70 million.

For Hong Kong and South China newspapers see..... (Reporting by Shanghai Newsroom; Editing by Subhranshu Sahu)

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