February 5, 2015 / 1:47 AM / 3 years ago

PRESS DIGEST -China - Feb 5

SHANGHAI, Feb 5 (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

- Funds worth up to 665 billion yuan ($106.45 billion) will flow into markets after China’s central bank cut reserve rate on Wednesday, according to estimates by local financial institutions.

SECURITIES TIMES

- The People’s Bank of China plans to introduce a registration system for the asset-backed securitisation market, the central bank said in an internal document.

CHINA DAILY

- The introduction of individual taxpayer IDs in the Taxation Administration Law draft amendments will increase transparency and complement China’s personal credit system, the paper said in an editorial.

PEOPLE‘S DAILY

- Improving transparency in the administrative approval process is significant for promoting the rule of law, this mouthpiece of the ruling Communist Party of China said in an editorial.

For Hong Kong and South China newspapers see..... ($1 = 6.2472 Chinese yuan renminbi) (Reporting by Shanghai Newsroom and Sue-Lin Wong; Editing by Subhranshu Sahu)

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