July 16, 2012 / 1:53 AM / 5 years ago

PRESS DIGEST - China - July 16

SHANGHAI, July 16 (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.


-- Market players widely expect China to release a series of monetary policy easing measures after Premier Wen Jiabao pledged more fine-tuning to support the economy, whose growth rate slowed to a three-year trough in the second quarter.

-- The China Securities Regulatory Commission said stopping initial public offerings would not boost the performance of the country’s stock market, responding to investors’ appeal to stop IPOs to support the sagging market.

-- Six coal companies have made earnings forecasts for the first half of the year, saying that profits slumped or they made losses due to falling coal prices. Chinese firms post their interim earnings from July 1 to Aug. 31, with most reporting in August.


- The central government has ordered the local government in the southern city of Zhuhai to stop property-boosting steps. News reports said Zhuhai had taken such steps, including cancelling a limit on the number of houses an individual could buy.

- Average ratios of non-performing loans of banks in the eastern Chinese city of Wenzhou rose to 2.69 percent by the end of June, up from 0.37 percent a year earlier.


-- China’s overall land market cooled in the first half of this year, although individual cities had sold land at record high prices, the Ministry of Land and Resources said.

CHINA DAILY (www.chinadaily.com.cn)

-- Trade between China and Africa will be increasingly settled in yuan, a senior executive at African Export-Import Bank, Afreximbank, said.

For Hong Kong and South China newspapers see..... For Taiwan newspapers see........................ (Compiled by Beijing and Shanghai Newsrooms; Editing by Jijo Jacob)

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