UPDATE 1-PRESS DIGEST - China - July 6

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SHANGHAI, July 6 (Reuters) - Chinese newspapers available in Beijing and Shanghai carried the following stories on Monday. Reuters has not checked the stories and does not vouch for their accuracy.

FINANCIAL NEWS

-- China has not lost its competitive advantage in international trade despite a fall in exports during the current financial crisis, a vice commerce minister said.

CHINA DAILY (WWW.CHINADAILY.COM.CN)

-- The United States has the responsibility of maintaining the stability of the U.S. dollar which will still be the most important major international reserve currency in years to come, China's Vice Foreign Minister He Yafei said.

PEOPLE'S DAILY

-- China's electricity output grew 3.59 percent from a year earlier to 309.328 billion kilowatt hours in June, the first rise since October, adding to signs the economy may be stabilising.

CHINA SECURITIES JOURNAL