July 26, 2013 / 1:41 AM / in 4 years

PRESS DIGEST - China - July 26

SHANGHAI, July 26 (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.


- China is expected to start a railway development fund this year, which plans to raise 100 billion yuan ($16.30 billion), with a focus on development of line construction in poor areas in the country’s central and western regions, Premier Li Keqiang said at a State Council executive meeting on Wednesday.


- Bank of China has been chosen for a pilot programme that will allow overseas branches of Chinese companies to remit offshore yuan back onshore to pay employee salaries, bypassing current daily limits on remittance of offshore yuan.


- The ministry of industry and information technology released on Thursday a list of companies with outdated production facilities that will be closed by September. The list covered 19 industries, including cement and paper and names 19 listed companies.


- China’s non-governmental organisations, charitable foundations and private non-enterprise units, among others, may in the future be able to provide pensions for their employees, according to a paper published recently by the ministry of civil affairs.

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

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