July 25, 2014 / 2:07 AM / 4 years ago

PRESS DIGEST-China - July 25

July 25 (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.


- The China Banking Regulatory Commission (CBRC) told banks on Thursday to properly set loan terms for small and micro enterprises in order to avoid a mismatch between loan term and operating cycle. The commission also asked lenders to diversify loan products to better meet financing needs of companies and reduce their repayment burdens.


- The Agricultural Bank of China, the country’s third-largest lender, will start offering interest rate discounts for first-home mortgages next month in Shanghai. The bank will offer discounts of 5 percent from the benchmark lending rate for customers with sound credit history, the bank said.


- The China Banking Regulatory Commission rolled out specific measures on Thursday asking financial institutions to facilitate loan renewals for eligible small and micro enterprise without limited frequency.


- The Shanghai Audit Office reported that 3.09 billion yuan ($498.8 million) from 67 government-invested or dominated projects was misappropriated in 2013, while about 24 projects had cost overruns on unauthorised changes on project construction or deviation from original pricing plan.


- China should take the Sino-Japanese War of 1894 as a lesson and be alert to the challenges presented by hegemonism and power politics, the paper said in a commentary.

For Hong Kong and South China newspapers see..... ($1 = 6.1955 Chinese Yuan) (Reporting by Shanghai Newsroom; Editing by Prateek Chatterjee)

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