MNI China Press Digest July 13: Property, FDI, Central SOEs

     BEIJING (MNI) - The following lists highlights from the Chinese press for

Friday:

     Shantytown renovation programs need to adjust measures to local conditions.

Cities with a large inventory can still give subsidies to residents for

resettlement, Xinhua News Agency said, citing a manager at the Ministry of

Housing and Urban-Rural Development (MoHURD). Local governments should further

define the range and standard of shantytown renovation, the manager said. The

shantytown areas have renovated 3630 thousand houses in the first half of the

year, 62.5% of the goal for the whole year, the newspaper said. The manager

urges local governments to start new real estate projects as soon as possible

and strengthen the construction of supporting infrastructures in shantytown

areas.

     China established 29591 new foreign-invested enterprises with a value of

CNY446.29 billion, increasing 1.1% year over year, in the first half of the

year, Economic Information Daily said, according to data of Ministry of

Commerce. The high-tech manufacturing industry has seen a continuous rise,

marking a 25.3% increase year over year, the newspaper said. The U.S.,

Singapore, South Korea, UK and Macao are among the major investment sources and

have all shown strong momentum in the first six months, the newspaper said.

     Central state-owned enterprises made CNY201.88 billion yuan in profit in

June, up 26.4% year over year, creating an all-time high in a single month,

Financial News reported, citing Peng Huagang, deputy secretary of State-owned

Assets Supervision and Administration Commission (SASAC). The SASAC has kept a

close eye on highly indebted enterprises and the average asset-liability ratio

declined 0.5 percentage point year over year in June, Peng said. The SCSAC has

converted over CNY200 billion debt into equity, Peng added.

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

--MNI Singapore Bureau; +65 8233 2326; email: Asia-Editor@marketnews.com

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