PRESS DIGEST -China - Oct 25

Reuters

Oct 25 (Reuters) - Chinese newspapers available in Beijingand Shanghai carried the following stories on Friday. Reutershas not checked the stories and does not vouch for theiraccuracy.

CHINA SECURITIES JOURNAL

- Net profit of Chinese insurers jumped 134.9 percent in thefirst nine months of this year to 91.75 billion yuan ($15.09billion), due to a low base last year and improved investmentreturns, according to the China Insurance Regulatory Commission.

SHANGHAI SECURITIES NEWS

- Shanghai will merge the city's two major newspaper groups,the Jiefang Daily Group and Wenhui Xinmin United Press Group.

- Wal-Mart Stores is looking to close 15-30 underperformingstores in China.

SHANGHAI DAILY

- Competition and protectionism have caused Japanese dairymanufacturer Meiji to quit the China infant formula market.Meiji was forced to slash prices by regulators during ananti-monopoly campaign.

CHINA DAILY

- China's industrial recovery remains weak, said an officialwith the Ministry of Industry and Information Technology.

- Agricultural Bank of China plans to offloadnon-performing assets valued 10 billion yuan ($1.64 billion) onthe Beijing Financial Assets Exchange.

PEOPLE'S DAILY

- China's urban employment increased by 10.66 million peopleduring the first nine months, hitting the 9 million target forthe year ahead of schedule.

For Hong Kong and South China newspapers see.....

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