July 4, 2014 / 1:50 AM / 4 years ago

PRESS DIGEST-China - July 4

SHANGHAI, July 4 (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.


- Total deposits of China’s ‘big four’ banks, Bank of China Ltd, China Construction Bank Corp, Industrial and Commercial Bank of China Ltd and Agricultural Bank of China Ltd, reached 2.2 trillion yuan ($354.18 billion) in June, but industry insiders say these banks still face strong pressures to increase their deposits.


- The Ministry of Finance is going to launch a series of policies on reimbursement of charging facilities and tax waiver for new energy vehicles, sources told the newspaper.


- The Urban-Rural Development Commission of the city of Jinan in Shandong province said it was still looking into loosening home purchase rules in the city and was waiting for approval from the Department of Housing and Urban-Rural Development. The response came after local media reported the city had relaxed home buying regulations.


- Shanghai is likely to raise the price of household gas by at least 20 percent to reflect global costs and encourage energy conservation, according to the Shanghai Development and Reform Commission. This is the first time the city is raising gas prices since 2008. No timetable was announced by the government.


- China’s top coal-producing region, Inner Mongolia, said on Thursday that coal miners no longer need local government approval for corporate transfers or for merger and acquisition deals, a move aimed at accelerating consolidation in the sector.


- The central government will insist on the principle of ‘one country, two systems’ for Hong Kong, the newspaper said in a commentary.

For Hong Kong and South China newspapers see..... ($1 = 6.2115 Chinese Yuan Renminbi) (Reporting by Shanghai Newsroom; Editing by Anupama Dwivedi)

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