UPDATE 1-PRESS DIGEST - China - May 13

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BEIJING/SHANGHAI, May 13 (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

-- Analysts are mixed on the likely direction of China's inflation rate. Some analysts forecast the country's annual consumer price inflation rate will fall below 8 percent in May, but others said it would remain high through the second half.

-- Sichuan Gaojin Food 002143.SZ said three subsidiaries halted production due to damage and power and water outages caused by Monday's earthquake in Sichuan Province.

-- Kingray Technology (600390.SS: Quote, Profile, Research, Stock Buzz) will issue shares to raise up to 400 million yuan ($57.25 million) in a private placement to fund three manganese and nickel production lines.

-- The China Securities Regulatory Commission has urged explicitly making it a crime to profit from trading on a client's account without the client's authorisation.

SHANGHAI SECURITIES NEWS

-- Parent and affiliated companies of 30 listed firms hold a total of 7 billion yuan in funds that should be distributed to the listed firms, despite calls from regulators to resolve the problem.  Continued...