PRESS DIGEST - China - May 8
SHANGHAI, May 8 (Reuters) - Chinese newspapers available in Beijing and Shanghai carried the following stories on Friday. Reuters has not checked the stories and does not vouch for their accuracy.
CHINA SECURITIES JOURNAL
- Shanghai Stock Exchange will support the development of the country's emerging industries, including helping Internet firms to list in China, the bourse said in a statement.
- Ouzhi, a financial services subsidiary of Baosteel Iron & Steel Co Ltd, has signed strategic contracts with 13 banks in Shanghai for more than 160 billion yuan ($25.78 billion) of credit, the paper reported citing the deputy manager of the company.
- China's State Council said in a directive on Thursday to push forward development of e-commerce, including lowering entry barriers and providing some financial support.
SHANGHAI SECURITIES NEWS
- China Export and Credit Insurance Corporation has provided a total of $95.8 billion in insurance coverage to the country's New Silk Road projects in 2014, including $400 million of reparation, the chairman of the company told the paper.
FINANCIAL TIMES
- Local insurance funds, with a total corpus of more than 600 billion yuan, will begin to invest in China's stock market from next year, the paper said citing industry experts.
For Hong Kong and South China newspapers see.....
($1 = 6.2063 Chinese yuan) (Compiled by Shanghai Newsroom; Editing by Sunil Nair)
