SHANGHAI, Nov 15 (Reuters) - Chinese newspapers available inBeijing and Shanghai carried the following stories on Friday.Reuters has not checked the stories and does not vouch for theiraccuracy.
CHINA SECURITIES JOURNAL
- Everbright Securities Co Ltd announced onThursday that it would be fined a total of 523 million yuan($85.85 million) for insider trading during the "Aug 16incident." The four people responsible will be fined 600,000yuan each and prohibited from trading, while the chairmansecretary will be fined 200,000 yuan.
A glitch in Everbright's computer system caused anunintended placement of buy orders worth 68.6 billion yuan($11.2 billion) to the Shanghai stock exchange on Aug. 16 andled to a massive but short-lived jump in the country's mainstock index.
SHANGHAI SECURITIES NEWS
- China's "third board" over-the-counter equity exchangeplatform is set to expand and roll out new policies to makelisting, buying and selling stakes in companies on the platformas "convenient as stocks."
- Reform now faces unprecedented resistance in the"deepwater zone," where a combination of convoluted vestedinterests, such as local protectionism, departmentalism andspecial interest groups threaten to thwart all the major reformssociety badly needs said a commentary in the paper.
- Long-anticipated natural gas shortages have already begunto impact Chinese manufacturers, with PetroChina Co Ltd moving to cut off supply to a chemical fertilisercompany in Hunan proving to preserve supply for residentialusers for the upcoming winter. An official said cities where the"coal-to-gas" initiative had been implemented, intended tomigrate consumers from polluting coal to cleaner gas, would behardest hit by shortages.
- China should focus on creating a fairer and more justsocial environment, said a commentary in the paper that acts asthe party's mouthpiece.
For Hong Kong and South China newspapers see.....
- Investment & Company Information