SHANGHAI, Jan 7 (Reuters) - Chinese newspapers available in Beijing and Shanghai carried the following stories on Wednesday. Reuters has not checked the stories and does not vouch for their accuracy.

CHINA SECURITIES JOURNAL

- China should promote further steps on financial reform, including developing private banks and an inclusive financial system, Premier Li Keqiang said during an inspection tour in Guangzhou. He said China should open wider to the outside world, with weak demand in the domestic market and increasing competition.

SHANGHAI SECURITIES NEWS

- A Shenzhen-Hong Kong stock connect is likely to be not far off after recent comments from Premier Li Keqiang and Hong Kong leader Leung Chun-ying about the need and benefits of such a scheme.

SECURITIES TIMES

- The Securities Association of China said in an announcement that it will relax the terms for securities companies to set up subsidiaries as well as background requirements for shareholders.

CHINA DAILY

- Chinese courts corrected the highest number of wrongful charges and verdicts last year, during which they awarded almost 90 million yuan ($14.49 million) in compensation to people convicted of crimes that were proved they did not commit.

- China is considering regulating and implementing standards for electronic cigarettes, according to an official from the State Tobacco Monopoly Administration.

For Hong Kong and South China newspapers see.....

($1 = 6.2125 Chinese yuan renminbi) (Reporting by Brenda Goh and Chen Yixin; Editing by Subhranshu Sahu)