China News Direct

 
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PBOC Names Development Direction for 2010
(Dec 31, 2009) China will continue to implement a moderately easy monetary policy and make efforts to improve the operation and flexibility of the policies, says Zhou Xiaochuan, governor of People's Bank of China (PBOC). The government will give more effort to harness credit policies to support underdeveloped fields, employment, strategic emerging industries ...
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Guangzhou Makes Idle Land Cost Heavy
(Dec 31, 2009) Guangzhou will charge developers a one-off 20% of land price for any idle land held. Administration of State Land, Resources and Housing of Guangzhou Municipality issued a new program for managing idle land and will adjust the land price charges in accordance with the State Council's "Conservation and Intensive Land ...
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Sales of Building Material Rose 11% in Fujian
(Dec 25, 2009) From January to November 2009, above-scale building material enterprises (those with an annual sales of over RMB5 million) in Fujian province recorded industrial output value of RMB121.3 billion, an increase of 11.5% on-year. They completed sales output value of RMB118.3 billion, an increase of 10.9% on-year with a sales rate ...
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Cement Price Rises Steadily in China
(Dec 21, 2009) The ex-factory price of cement in China rose RMB2 from October to RMB278 per ton in November 2009, posting a two-month rise and cement price in December is expected to show steady increase. Rises in cement price were more noticeable in western and eastern China. In western China, the ex-factory ...
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Guizhou in Housing Construction Boom
(Dec 21, 2009) Guizhou province's housing construction area continued to expand and the rate of completion became faster in the second half of 2009. In the third quarter of 2009, construction enterprises in Guizhou constructed housing area of 40.55 million square meters, an increase of 4.51 million square meters, and rising 12.5% over ...
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Polled Banks Expects Stable Monetary Policy
(Dec 17, 2009) A survey by People's Bank of China (PBOC) revealed that 66% of banks expected the existing monetary policy to stay the same in 1Q 2010, and more entrepreneurs and businesses were optimistic about the future macro-economic situation. PBOC reported that bankers' macroeconomic confidence index in 4Q 2009 has rebounded for ...
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Car Sales Broke Record in Beijing in Dec '09
(Sep 08, 2009) Beijing registered sales of 1.148 million motor vehicles in 2009, an increase of 30.8% on-year with the growth increment 20.8 percentage points higher than 2008. Sales of motor vehicle reached 123,000 units in December 2009, the highest record ever, showing a prompt automobile market not really affected by the global ...
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Audit Office Keeps Watching RMB4tn Stimulus Spending
(Dec 30, 2009) Some RMB9 billion of funds allocated from the central government's RMB4 trillion stimulus have not been utilized on 1,981 designated projects by local authorities, accounting for 45.58% of the total, according to National Audit Office (NAO). Local governments in China have arranged 115,000 investment projects to spur domestic demand with ...
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Taiwan Ready To Start ECFA Talks
(Dec 30, 2009) The Economic Cooperation Framework Agreement (ECFA) between Taiwan and mainland China will start negotiation next month, aiming to sign the agreement during the fifth Chen Yunlin-Chiang Pinkun Talk, according to Shih Yen-shiang, Minister of Economic Affairs, Taiwan. The agreement will mainly cover goods and services industry in the preliminary phase. ...
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New Loans May Hit RMB900bn in Jan 2010
(Dec 30, 2009) The amount of new loans in December is expected to surpass that of November to more than RMB300 billion. A report released by Southwest China Securities Research and Development Centre forecast that the amount of new loans in December 2009 would rebound to a level between RMB330 billion to RMB550 ...
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