PRESS DIGEST - China - May 12

SHANGHAI, May 12 (Reuters) - Chinese newspapers available 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

- China's investor confidence index hit 65.2 in April, up 26.6 percent from a year earlier, but down 7.5 percent from March, according to a report from China Securities Investors Protection Fund.

- Seventy-one listed companies in China have changed their company names so far this year to expand business to emerging industries, according to data compiled by the paper.

SHANGHAI SECURITIES NEWS

- China will maintain its prudent monetary policy with certain relaxation, which is definitely not quantitative easing, Yu Pingkang, chief economist at Huatai Securities in Shenzhen, said in an editorial. The reason is because no economic recession and high unemployment rate in China, where common monetary policy is still effective.

CHINA DAILY

- China should further raise its cigarette tax after the recent hikes to reduce tobacco use and promote the development of health and medical sectors, the paper said citing an industry expert.

- ZTE Corp is in its final stage of an investment plan to build a factory in Belarus, the paper said citing heads of the company.

SHANGHAI DAILY

- China's State Council issued an instruction on Monday to introduce private money to expand government procurement of cultural services.

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

(Compiled by Shanghai Newsroom; Editing by Gopakumar Warrier)

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