News Digest: June 24, 2011

The following press releases and media reports about Chinese companies were carried on June 23. To view a full article or story, click on the link next to the headline.

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◙ Off-Balance-Sheet Loans Double, Boosting Bank Default Risk: China Credit (English article)

◙ China Mobile (HKEx: 941) to Offer 4G IPhone in September, Newspaper Reports (English article)

◙ Phoenix New Media (NYSE: FENG) Reports First Quarter 2011 Results (Press release)

◙ Baidu (Nasdaq: BIDU) Acquires 29% Stake in Leftbrain (Shenzhen: 430081) (English article)

◙ 3M (NYSE: MMM) Adds Temporary Wafer Bonding Application Lab in Taiwan (Businesswire)