Reuters: Financial Services and Real Estate: UPDATE 1 - China - June 7

Reuters: Financial Services and Real Estate Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

UPDATE 1 - China - June 7 Jun 7th 2012, 02:34 Wed Jun 6, 2012 10:36pm EDT SHANGHAI/BEIJING, June 7 (Reuters) - Chinese newspapers available in Beijing and Shanghai carried the following stories on Thursday. Reuters has not checked the stories and does not vouch for their accuracy. FINANCIAL NEWS --The State Council, or the cabinet, decided to implement a regulation on management of capitals of commercial banks from Jan 1, 2013, which put lenders under the regulatory supervision within the Basel III framework agreed by G20 leaders in 2011. CHINA DAILY (www.chinadaily.com.cn) --Apple Inc is considering opening two new stores in China, a step that would give it eight stores in the country; one of its new stores will be in Chengdu, capital of Sichuan province. PEOPLE'S DAILY --President Hu Jintao told leaders of the Shanghai Cooperation Organization (SCO) that member states should promote mutual trust and regional stability and cooperation, and to expand the grouping's global influence during the SCO Beijing summit held at the Great Hall of People. --Vice Premier Wang Qishan and U.S. Treasury Secretary Timothy Geithner discussed economic relations between China and the United States over the phone. The two officials also exchanged views on the economic situation in Europe, the upcoming Group of 20 (G-20) summit in Los Cabos, Mexico. CHINA SECURITIES JOURNAL --Shanghai saw a successful land auction on Wednesday, with seven pieces of property auctioned, including one that sold at a 435 percent premium to its starting price. But total land sales for the year to date are still only 30 percent of last year's total. SHANGHAI SECURITIES NEWS --Sixteen listed securities houses said their combined profits hit 1.98 billion yuan ($309.6 million) in May, up around 20 percent from April. --Poly Real Estate (Group) Co Ltd said contract sales rose over 40 percent by area and by value in May from a year earlier. --There could be an nationwide electricity shortage this summer of as big as 35 million kilowatts. 21ST CENTURY BUSINESS HERALD --Property companies raised over 10 billion yuan in May through syndicated loans, overseas bonds, and trust loans, showing that liquidity in these enterprises remains tight. SHANGHAI DAILY --China's Ministry of Human Resources and Social Security is preparing a document in conjunction with the police that will simplify procedures for expats to gain permanent resident status as part of efforts to attract foreign talent, a spokesman said in an online chat. For Hong Kong and South China newspapers see..... For Taiwan newspapers see........................ Link this Share this Digg this Email Reprints

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