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PRESS DIGEST -China - Nov 20
November 20, 2014 / 2:07 AM / 3 years ago

PRESS DIGEST -China - Nov 20

Nov 20 (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.


- Companies that have listed on the over-the-counter (OTC) exchange and have met compliance requirements can be transferred to China’s Nasdaq-style board known as ChiNext, said Liu Jianjun, deputy director at the supervision department of private equity in China Securities Regulatory Commission (CSRC).

- Zhuang Xinyi, vice chairman of CSRC, said at a forum meeting on Wednesday that the commission was pushing forward with reforms on the initial public offering (IPO) process which is currently based on an approval-based registration system.


- Hong Kong residents’ demand for offshore renminbi, also known as yuan, has risen to a two-week high due to the launch of the Shanghai-Hong Kong stock connect scheme. The rise in demand has also boosted the exchange rate for offshore yuan, the paper said.


- The government will push ahead with financial reforms even as the economy faces growing pressure, according to officials from the National Development and Reform Commission.


- The water in half of China’s top 10 river systems is polluted and about 60 percent of the nation’s underground water is of poor quality, according to China’s Environmental Situation Report. About 9 percent of the water in these river systems was rated as class V, indicating severe pollution.


- China is ready to work with other countries to deepen international cooperation, respect sovereignty on the internet and uphold cyber security, President Xi Jinping said in a congratulatory message to the first World Internet Conference.

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

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