PRESS DIGEST-China - Sept 2
Sept 2 (Reuters) - Chinese newspapers available in Beijing and Shanghai carried the following stories on Tuesday. Reuters has not checked the stories and does not vouch for their accuracy.
CHINA SECURITIES JOURNAL
- China's financial institutions are estimated to have extended 700 billion yuan ($114 billion) in new loans in August amid concerns over rising non-performing loans, deposit outflow and tightened supervision towards commercial banks.
- An executive of the National Equities Exchange and Quotations Corporation (NEEQ) said it would introduce financing tools such as privately issued bonds by small companies and preferred stocks soon.
SHANGHAI SECURITIES NEWS
- China National Offshore Oil Corp plans to leave its AEGON-CNOOC insurance joint venture with Dutch insurer Aegon NV by transferring its shares, with IT firm Tsinghua Tongfang currently its most likely replacement, the newspaper reported citing unidentified sources.
SECURITIES TIMES
- State-owned China Construction Bank's Chairman Wang Hongzhang denied that the bank had a "5321 plan," denoting levels of pay cuts for different levels of personnel.
21ST CENTURY BUSINESS HERALD
- Six companies have launched IPO subscriptions which is expected to lock up over 660 billion yuan ($162.69 billion) of funds.
CHINA DAILY
- The number of foreign offenders receiving legal aid jumped 20 percent to more than 800 cases last year after a law was amended to require the government to provide free help to foreigners facing life sentences or the death penalty.
- The decision to vet candidates standing in Hong Kong's chief executive elections is ultimately intended to maintain the rule of law in the special administrative region and it is up to "pan-democrats" candidates to win support to stand for election, China Daily said in an editorial.
For Hong Kong and South China newspapers see.....
($1 = 6.1415 Chinese yuan) (Compiled by Chen Yixin and Brenda Goh in Shanghai; Editing by Anand Basu)
