Monday, February 26, 2007

Chinese Economy Update

  • State Council: housing prices in some cities are still rising too fast, more curbs needed.
  • Beijing is to provide 10 million sq meters of affordable housing and 10 mln sq meters of price-capped homes within 3 years.
  • Carrefour's five stores in Guangzhou in the red, Beijing outlets operating well.
  • Xinjiang boasts proven natural gas deposits of 1.29 tln cu meters, tops all the hydrocarbon producing regions in China.
  • Daily west-to-east gas transmission reaches 36 mln cu meters, up nearly 40 per cent yr-on-yr.
  • Beijing's tourism sector pockets CNY 1.9 bln during the week-long Chinese New Year holiday.
  • China's trade defict in service sector is in a widening trend.
  • Steel industry witnessed record high profit in 2006.
  • Monetary tightening remain central bank's main policy as concerns about excess liquity linger.
  • The three state-run oil giants of China will send deligations to Russia next month in efforts to seek breakthrough in engergy cooperation between the two countries.

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