August 29, 2014 / 1:30 AM / in 3 years

PRESS DIGEST - China - Aug 29

SHANGHAI, Aug 29 (Reuters) - Chinese newspapers available in Beijing and Shanghai carried the following stories on Friday. Reuters has not checked the stories and does not vouch for their accuracy.

SHANGHAI SECURITIES NEWS

- The 84 fund firms who have already reported their first-half results recorded a combined profit of 9.6 billion yuan ($1.6 billion), according to earnings data. Commodities-related funds performed the best.

- China’s pharmaceutical sector could see a pick-up in growth over the next few months after a fierce crackdown on corruption and drug pricing dragged on the sector, the official financial paper said, citing private-equity investors.

- Shanghai plans to invest up to 8 billion yuan ($1.3 billion) every year to support the elderly care industry, according to an official at the Community Health Alliance.

CHINA SECURITIES JOURNAL

- Net profits of 2,380 Shanghai- and Shenzhen-listed companies rose 9.4 percent in the first half of the year, according to calculations by the financial newspaper.

SECURITIES TIMES

- Chinese cities of Hangzhou and Xi‘an have withdrawn any limitations on purchasing property because of high numbers of unsold properties.

SHANGHAI DAILY

- The trial of former Shanghai health official Huang Fengping began on Thursday, according to the Shanghai No. 1 Intermediated People’s Court. Huang is charged with corruption after authorities said he failed to account for over 15 million yuan of cash and property.

CHINA DAILY

- Chinese President Xi Jinping on Wednesday called for closer cooperation with Russia and other Central Asian countries to combat terrorism.

PEOPLE‘S DAILY

- The United States must understand that China will not turn a blind eye to any outsiders trying to “peep in the window”, the paper, which acts as a mouthpiece for the Party, said in a commentary. The two countries are sparring over a recent near-collision between a Chinese and a U.S. jet.

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

1 US dollar = 6.1423 Chinese yuan Reporting by Shanghai Newsroom; Editing by Subhranshu Sahu

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