April 3, 2014 / 1:40 AM / in 4 years

PRESS DIGEST - China - April 3

SHANGHAI, April 3 (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.


- China will accelerate urbanisation in shanty towns to promote investment and consumption, Premier Li Keqiang said in the weekly State Council meeting. The move also aims to help boost the broader economy.

- Local securities firm Sealand Securities Co announced it will raise under 5 billion yuan ($805.72 million) via private placements. It will also issue corporate bonds for under 2 billion yuan.


- Shanghai will become the second city in the country after Beijing to introduce the China V-emission standards for new vehicles, starting April 30, in a bid to tackle air pollution.


- The National Development and Reform Commission has approved raising of transport fees by private-owned commercial rail operators such as Shenhua Energy. Shenhua will be able to charge a fee of 0.20 yuan per tonne, from 0.15 yuan per tonne, from April 1 for its Inner Mongolia-Shaanxi rail road.


- China lacks a new engine of economic growth and is still in the process of developing news ways to stimulate the economy, said Guo Tianyang, director of the Research Center of the Chinese Banking Industry at the Central University of Finance and Economics in Beijing, while other analysts said the country’s bad debt is expected to increase.

- China may sell debt and is considering other ways to raise funds for combating climate change, an official at the country’s top economic planner said on Tuesday.

For Hong Kong and South China newspapers see..... ($1 = 6.2056 Chinese yuan) (Reporting by Chen Yixin and Fayen Wong; Editing by Sunil Nair)

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