PRESS DIGEST - China - Nov.11
Nov 11 (Reuters) - Chinese newspapers in Beijing and Shanghai carried the following stories on Tuesday. Reuters has not checked the stories and does not vouch for their accuracy.
CHINA SECURITIES JOURNAL
- The impact of the exit of the U.S. from its quantitative easing programme was limited and the development of China's banking sector may enter a "new normal," said Wang Hongzhang, the chairman of China Construction Bank .
- Bank of China has been appointed by the Hong Kong Securities Clearing Company Ltd. as the sole clearing bank for the Shanghai-Hong Kong Stock Connect scheme, the lender said in an statement posted on its website.
- The chance of a sharp renminbi (also known as the "yuan") appreciation in the near term is low considering the strong U.S. dollar and the renminbi's two-way fluctuation, the paper said in a commentary.
CHINA DAILY
- The meeting between China's president Xi Jinping and the Japanese prime minister Shinzo Abe on Monday was desperately needed by Abe to reassure a suspicious public back home that he has not lost traction, said an editorial. Given Abe's less than glorious track record, Japan's words of goodwill need to be matched with action, it said.
SHANGHAI DAILY
- Hong Kong-based FWD Life Insurance Co is seeking a tie-up with a mainland life insurer within two years, said David Wong, the company's CEO.
PEOPLE'S DAILY
- The spirit of understanding is the premise of mutual trust and cooperation among various countries participating in the ongoing APEC roundtable meetings, and it also applies to normal people, the party mouthpiece said in a commentary.
For Hong Kong and South China newspapers see..... (Reporting by Shanghai Newsroom; Editing by Biju Dwarakanath)
