Stock exchange officials refused to confirm the story in the 21st Century Business Herald.
According to a report by 21st Century Business Herald, lending by the big four banks has been weak this month.
FORBES: China Banks Struggling To Give Money Away; Equities Decline
On April 22, the 21st Century Business Herald reported that regulators will allow a first batch of 10 foreign and overseas-listed Chinese companies to list on the board.
Shi reportedly refused the two government proposals and wanted to protect the New York-listed Suntech Power by letting its core subsidiary in Wuxi go bankrupt, according to the 21st Century Business Herald report.
FORBES: China's Government To the Rescue As Solar Crisis Deepens
The 21st Century Business Herald runs an analysis saying that with more and more railway officials being investigated for suspected corruption after Liu Zhijun's downfall, China's high speed railway industry is poised for a reshuffle.
China will subsidize electric vehicles sold in 25 cities, expanding from the current five cities, and adopt a unified national subsidy standard, The 21st Century Business Herald reported on Wednesday citing China Association of Automobile Manufacturers.
FORBES: China Tries Saving Nearly Non-Existent Electric Car Market
Guangzhou's Southern Metropolis Daily says parents have been questioning why Meiji refuse to recall the same products in China, while 21st Century Business Herald suggests that the problem could actually lie on "parallel traded" stocks.
But according to a news report by 21st Century Business Herald on Wednesday, employees said the riot turned from a personal dorm squabble into battles between police and about 2000 workers after the guards responded with excessive force.
FORBES: Tensions High In China's iPhone Factory After Massive Riot
Turning back to China, authorities say that nearly 6, 000 dead pigs found floating down the Huangpu River towards Shanghai were not killed by an epidemic and tap water in Shanghai is not contaminated, 21st Century Business Herald reports.
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