U.S. Markets close in 3 hrs 25 mins

PRESS DIGEST- China - Dec 13

Dec 13 (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's first and second-tier property market is cooling following the implementation of policies to control pricing, according to data and industry insiders. Prices will continue to fall in the coming months, insiders predicted.


- China's small and medium commercial banks now need to apply for operating licenses, according to an announcement by the China Banking Regulatory Commission (CBRC). The aim is to tighten regulation over the services provided by such banks, said an unnamed CBRC source.


- A simulated stock option trial in China will involve four companies including Industrial and Commercial Bank of China Ltd and China Petroleum & Chemical Corp, broker sources said. The trial will also involve the launch of call and put option contracts.


- There are currently around 3,000 government WeChat accounts across mainland China, Hong Kong and Macau, as China looks to make use the popular social media application to improve communication with citizens.

- Over 600 children's products failed to meet quality standards, China's industry watchdog said this week. The watchdog said 644 items, including toys, clothes and diapers, from 571 manufacturers were substandard.


- China should unite to help build the "China dream", which is to achieve national prosperity, said a commentary in the paper that acts as the Party's mouthpiece. This dream embodies the aspirations of several generations of Chinese people and the overall interests of the nation, it said.


- A total of 24 Chinese provinces levied more than 20 billion yuan ($3.29 billion) in fines for extra births in 2012, but did not disclose how they spent the money. Ten other provinces have not yet published figures.

- The average salary in China is set to rise between 6 and 10 percent in 2014, a survey from recruiter Michael Page showed. Over 60 percent of respondents said they expected to raise salaries by this amount next year, while a further 18 percent eyed double-digit growth.

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