July 17, 2014 / 1:40 AM / 3 years ago

PRESS DIGEST - China - July 17

SHANGHAI, July 17 (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 SECURITIES JOURNAL

- Qin Hong, the director of the policy research centre in the Ministry of Housing and Urban, said they would strive to curb property investment and speculative demand to protect reasonable housing demand in the next six months with a hope that the market will be better than the first half of the year.

- The Guangxi Zhuang Autonomous Region plans to expand the scale of its investment and speed up railway construction to invest a total of 15 billion yuan ($2.42 billion) in 2014 which can go up to 20 billion yuan. And, the investment scale for the coming years will be 30 billion yuan per year.

- China Life Insurance Co Ltd said its insurance premium income nearly hit 200 billion yuan in the first half of this year.

SHANGHAI SECURITIES NEWS

- Bank of Nanjing said it would raise 8 billion yuan through a private placement.

CHINA BUSINESS NEWS

- China’s central authorities issued guidelines on Wednesday on the supply and use of government vehicles in an effort to cut spending, which industry experts predict would reduce expenditure by 150 billion yuan per year.

- Banks’ non-performing loans in Fujian province increased more than 90 percent in 2013, according to official data released on Wednesday.

21st CENTURY BUSINESS HERALD

- Regulators are considering easing the lending policy for China’s small companies, which may allow them to extend loans.

China Daily

- Guangdong, China’s largest provincial economy, plans to make further cuts in obsolete manufacturing capacity for iron, steel and cement by 2017, according to a draft plan by the province’s development and reform commission.

- Japanese Prime Minister Shinzo Abe is losing the public’s trust thanks to his lifting of the ban on collective self defense and other rightists moves, China Daily said in an editorial.

For Hong Kong and South China newspapers see..... ($1 = 6.2035 Chinese Yuan) (Reporting by Shanghai Newsroom and Brenda Goh; Editing by Subhranshu Sahu)

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