August 5, 2014 / 2:00 AM / in 3 years

PRESS DIGEST -China - Aug 5

SHANGHAI, Aug 5 (Reuters) - Chinese newspapers available in Beijing and Shanghai carried the following stories on Tuesday. Reuters has not checked the stories and does not vouch for their accuracy.


- State-owned enterprise Aluminium Corp of China (CHALCO) and privately-owned Jinjiang Group (Hangzhou) have entered into a joint venture, as China looks to accelerate mixed ownership reforms.


- New loans issued by 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, increased by 210 billion yuan ($33.99 billion) in July. Their deposits fell by about 1.5 trillion yuan, reversing from a 2.2 trillion yuan growth in June.


- The seismic belt of China’s Sichuan-Yunnan Region is currently active, geologist Yang Yong said.


- China’s railway building boom is expected to boost the country’s struggling steel, cement, glass and other heavy industries in the second half of this year.

- More than 4,000 workers in Microsoft Corp’s Nokia division may lose their jobs in the company’s global downsizing plan, China Daily said, citing a person familiar with the situation.


- China’s economy grew at a “new normal” rate in the first six months of this year, with its former high-speed growth slowing but still maintaining a sustainable rebound, the newspaper said in a commentary. Adapting to these “new normal” conditions will be good for the economy, it said.

For Hong Kong and South China newspapers see..... (Reporting by Shanghai Newsroom; Editing by Anupama Dwivedi)

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