MNI China Press Digest June 05: A-shares, EU-China, SOEs

Highlights from Chinese press reports on Wednesday:

• More listed companies have been issued warnings under stringent new delisting rules aimed at promoting the high-quality development of the A-share market, Securities Times reported. As of June 4, 99 listed companies have been issued risk warnings this year, due to failure to meet financial indicators or problems with the company's internal control and operation sustainability, exceeding the level of the same period last year. Among all, 55 of them were delisting risk warnings.
• Minister of Commerce Wang Wentao hopes Madrid can encourage the EU to maintain a rational and open attitude in the field of green new energy, in comments made to Spanish counterparts recently. The minister stressed EU concerns over excess capacity and market distortions stemmed from “excess anxiety” and a “distorted mentality”. China will continue enhancing trade with Spain and promote two-way investment, Wang added. (Source: Yicai)
• China’s SOEs need to ensure financial investments focus on their main business and refrain from high-risk financial dealings, according to Zhu Changming, head of the SOE Reform Centre. Following a government meeting on highlighting SOE core functions, Zhu said SOEs financial investments should serve as long term capital and cultivate new quality productivity and strengthen strategic emerging industries. (Source: Yicai)