PRESS DIGEST - China - Oct 16

SHANGHAI, Oct 16 (Reuters) - Chinese newspapers in Beijing and Shanghai carried the following stories on Friday. Reuters has not checked the stories and does not vouch for their accuracy.

SHANGHAI SECURITIES NEWS

- There are no long-term devaluation pressures on China's currency, the renminbi, the head of the central bank's economic research division Yao Yudong said on Thursday.

CHINA SECURITIES JOURNAL

- Over 60 percent of Chinese firms listed on the Small and Medium-sized Enterprise (SME) Board forecast an increase in net profits for the January-September period, according to an analysis of company filings by the official paper.

CHINA BUSINESS NEWS

- Around 677 Internet loan platforms have faced difficulties, withdrawing deposits or other issues since 2015, according to a recent report from online loans portal www.wangdaizhijia.com.

CHINA DAILY

- China needs to support new areas of economic growth to counter downward pressure from some traditional industries, Chinese Premier Li Keqiang said at a meeting of ministers and officials on Tuesday.

SHANGHAI DAILY

- China now has more dollar billionaires than the United States, according to the Hurun Rich List 2015 published on Thursday. Real estate tycoon Wang Jianlin overtook Alibaba Group Holding Ltd founder Jack Ma as China's richest man.

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

(Reporting by Shanghai Newsroom and Adam Jourdan; Editing by Biju Dwarakanath)