China Press Digest: Friday, September 15

     BEIJING (MNI) - The following are highlights from the China press for

Friday, Sept. 15:

     China's Ministry of Commerce and other government departments will "issue

detailed measures at an appropriate time" regarding the latest United Nations'

Security Council economic and trade sanctions against North Korea, according to

the ministry's website Thursday. The y/y growth rate of China-North Korea trade

has been falling recently, ministry spokesman Gao Feng said. The growth rate was

10.2% in the first seven months of the year and was expected to drop to below

10% in the January-to-August period. Gao said imports from North Korea had

fallen 16.3% between January and July.

     North Korea launched a missile shortly before 07:00 a.m. Friday Japan

Standard Time time (22:00 GMT Thursday). It overflew Japan's northern island of

Hokkaido and headed into the Pacific, The Wall Street Journal reported Friday

quoting the Japan government's alert system. No damage or injuries were

reported. (The Wall Street Journal)

     China hopes the U.S. makes "solid steps" to reduce restrictions on exports

to China and facilitate a balanced, stable and healthy development of Sino-U.S.

trade, Ministry of Commerce spokesman Gao Feng said Thursday according to the

ministry's website. In the first eight months of the year China's imports from

the U.S. rose 20.1% to $100.4 billion -- the highest in almost five years and

higher than the 13.5% overall Sino-U.S. trade growth rate as well as the 11.2%

growth rate of China exports to the U.S., Gao said. China has never purposely

pursued a trade surplus with the U.S. and current conditions are the result of

market forces, Gao said.

     Several Tier-3 and Tier-4 cities have introduced new policies to cool their

property markets. These cities include Xi'an, Lanzhou, Yangzhou and Taizhou, the

Shanghai Securities News reported Friday. September and October may see new

policies to control rising home prices -- especially in Tier-3 and Tier-4 cities

where the market is heating up, the newspaper said quoting analysts.

Macroeconomic controls on home and land prices aren't likely to be eased before

a long-term effective system is built for the property sector, the report said.

( Shanghai Securities News)

--MNI Beijing Bureau; +86 (10) 8532-5998; email: iris.ouyang@marketnews.com

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