Reuters: Regulatory News: PRESS DIGEST - China - Aug 14

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PRESS DIGEST - China - Aug 14 Aug 14th 2013, 02:08 SHANGHAI | Tue Aug 13, 2013 10:08pm EDT SHANGHAI Aug 14 (Reuters) - Chinese newspapers available in Beijing and Shanghai carried the following stories on Wednesday. Reuters has not checked the stories and does not vouch for their accuracy. CHINA SECURITIES JOURNAL - Huayu Automotive Systems Co Ltd said it plans to acquire 50 percent shareholding in Yanfeng Visteon Automotive Trim Systems Co Ltd for 5.7 billion yuan ($931.1 million). SHANGHAI SECURITIES NEWS - The Central Bank has suspended Baoshang Bank's licence for its interbank bond clearing agency business for two years from Tuesday, according to a notice it released through the Foreign Exchange Trading Center. - China Insurance Regulatory Commission plans to develop a new business evaluation index system to assist insurance companies with their management and methods of expansion, according to sources. - China should guide private capital into telecommunications and defence, minister of industry and information technology Miao Wei said on Tuesday at a press conference. Beijing will also push ahead with efforts to cull excess industrial capacity a year earlier than planned even as economic expansion slows. PEOPLE'S DAILY - As at the end of June, internet users in China hit 590 million, of which 464 million used their mobile phones for access, according to statistics released by the Ministry of Industry and Information Technology. SHANGHAI DAILY - Foreign equity investment into China's financial institutions fell to $442 million in the second quarter, the lowest in more than a year, according to data released by the State Administration of Foreign Exchange on Tuesday. For Hong Kong and South China newspapers see..... Link this Share this Digg this Email Reprints

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