September 20, 2012 / 1:35 AM / 5 years ago

PRESS DIGEST - China - Sept 20

BEIJING/SHANGHAI, Sept 20 (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.


-- Industry sources said there is a plan to use T+0 settlement system in the exchange-traded funds (ETF) market, which means investors can trade an ETF several times in a day.

-- The China Insurance Regulatory Commission (CIRC) chairman Xiang Junbo said the commission will cut regulatory fees for some of the country’s insurance products for serious illnesses.

-- China’s listed companies or major shareholders should buy back more of their shares in order to boost investor confidence, Ba Shusong, deputy director general of the financial research institute in the development research centre of the State Council, said.


-- China launched two satellites to support its Beidou navigation and positioning system on Wednesday. The country started a drive in 2000 to end its reliance on the U.S. global positioning system and it hopes that Beidou will cover most parts of Asia Pacific by this year and the world by 2020.


- Harbin authorities said on Wednesday overloading caused the collapse of a bridge that killed three and injured five on Aug. 24.

- Chinese solar companies are cutting production and laying off workers in a bid to cope with the crisis triggered by the European Union’s anti-dumping investigation and anti-dumping duties imposed by the United States.


- If China could keep the current pace of urbanization, it would see over 10 million migrants moving to cities annually in the next two-to-three decades, which would power domestic consumption, Vice Premier Li Keqiang said.

- China’s Vice Premier Wang Qishan told a forum that the country would strengthen efforts to protect intellectual property rights and treat domestic and foreign companies equally.

For Hong Kong and South China newspapers see..... (Reporting by Beijing and Shanghai Newsrooms; Editing by Jijo Jacob)

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