China News Direct

 
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New Railway Brings Chengdu To Lanzhou in 4 Hours
(Feb 21, 2009) A new 462km-railway linking Chengdu in Sichuan province with Lanzhou in Gansu province has commenced construction with total investment reaching RMB61.94 billion. The Chengdu-Lanzhou Railway is a joint-venture between the country's Ministry of Railways (MOF) and two provincial governments of Sichuan and Gansu governments. The construction is expected to take ...
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Yunnan Plans RMB28bn Railway Construction for '09
(Feb 21, 2009) Yunnan will try to guarantee transport fixed assets investment of RMB28 billion in the year 2009, announced by a transport work conference of the province. Yunnan's transport investment will focus on highway construction, rural road network construction and disaster recovery. In 2009, Yunnan plans railway construction investment of about RMB8 ...
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Ministry of Railways Issues RMB20bn Short-term Bills
(Feb 21, 2009) The Ministry of Railways (MOR) has issued this year's first batch of short-term bills with an issuance size of RMB20 billion. Of the total RMB20 billion, the volume put up for tender accounted for RMB14 billion and the bills have a term of 365 days. The interest rate of successful ...
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CASS: Industry Structure Adjustment Can Keep Growth
(Feb 20, 2009) The International Financial Research Centre at the World Economy and Politics Research Institution of the Chinese Academy of Social Sciences (CASS) suggested that simulative measures should continue to focus on adjustment of industry structure because economic growth momentum is still weak. The latest report of CASS calls for attention to ...
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NPC To Assess RMB200bn Local Government Bonds
(Feb 20, 2009) Market news says the central government may approve the issuance of RMB200 billion local government bonds at the end of February 2009. The pioneering move stems from the capital needs of local governments in supporting the RMB4-trillion national stimulus package and the proposal is said to be tabled to the ...
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CASS: Economic Recovery Still Too Early
(Feb 20, 2009) The latest economic research report from the Chinese thinktank says a reversing trend in economic fundamentals is not obvious despite the surge of a number of economic indicators in the first month of 2009. The International Financial Research Centre at the World Economy and Politics Research Institution of the Chinese ...
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HK and Guangdong Gives More Permits To Boost Trade
(Feb 20, 2009) Hong Kong and the Guangdong provincial government plan to launch a one-off ad hoc quota scheme that gives temporary permits to private cars driving across each other's boundaries. The two governments agreed to gradually relax the restrictions imposed on cross-boundary private cars. Car-owners that are not qualified for regular permits ...
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HK and Guangdong To Push One-off Driving Permits
(Feb 20, 2009) Private car owners in Hong Kong and the tourism industry generally welcome the proposed ad hoc quota scheme that allows private cars from Hong Kong and Guangdong to drive across each other's boundary with one-off permits. Ringo Lee, Chairman of the Institute of the Motor Industry Hong Kong, pointed out ...
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Shenzhen Plan RMB60bn Projects for '09
(Feb 20, 2009) Shenzhen Municipal Government will launch 842 investment projects in 2009, with an annual investment of RMB59.66 billion, doubling that a year earlier. Tang Shukui, spokesman of Shenzhen financial department, said that it is the first time for Shenzhen to pour so much money into supporting the development of infrastructures and ...
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Audit Office Will Watch RMB4tn Stimulus Spending
(Feb 20, 2009) China's National Audit Office (NAO) did not find any serious misuse of the RMB4-trillion stimulus funds, but promised to step up auditing and supervision over fund allocation. Auditor General Liu Jiayi with NAO said audits have been carried out nationwide since November 2008 but no major problems were found by ...
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