10 Thursday June 15, 2006 Business Shenzhen Daily
Shenzhen property prices up 13.7%
SHENZHEN’S residential residential properties in May
housing prices shot up 13.7 climbed 6.1 percent from a
percent from last May, accord- year earlier, down from 6.4
ing to the National Develop- percent in April, it said.
ment and Reform Commission Prices for what the commis-
(NDRC), the country’s top sion called “normal” residential
planning agency. properties rose 5.7 percent from
Shenzhen was the nation’s a year earlier, while annual
second-hottest market, accord- price growth for high-end resi-
ing to NDRC data posted on its dences was 6.9 percent.
Web site Tuesday. Concern about overly rapid
The other hot markets were price rises in some markets has
Dalian in the northeast, at prompted the government to
15.2 percent; Hohot in Inner launch cooling measures aimed
Mongolia at 11.4 percent; and at the property sector, including
Fuzhou in the southeast at raising down-payment require-
10.3 percent. ments for certain properties
Prices for newly constructed and limiting the number of
housing in Beijing rose 9 per- new high-end homes.
cent from a year earlier. Authorities have said the
The annual growth in urban measures were aimed at cool-
property prices accelerated to ing speculative activity in the
5.8 percent in May from 5.6 property market and did not Potential buyers at a property expo in Shenzhen. Housing prices in Shenzhen rose 13.7 percent in May from a year ago.
percent in April, official figures intend to raise the barriers to Wang Jun
showed yesterday. purchasing a modest home. Month-on-month price Prices in Beijing rose 1.5 with 5.8 percent in April.
Average property prices Prices for new houses in increases were most pro- percent in May from April. Prices for non-residential
across 70 cities edged up 0.7 Shanghai fell 6.2 percent from nounced in Dalian, Xiamen Prices of existing residen- commercial properties rose 4.4
percent in May from April, a year earlier. It had been the and Fuzhou, where they were tial properties increased 6.7 percent from a year earlier, the
NDRC said. focus of earlier efforts to rein 3.5 percent, 2.5 percent and 2.3 percent from a year earlier agency said, compared with 3.9
Prices for newly constructed in prices. percent respectively. across the 70 cities, compared percent in April. (SD-Agencies)
Industrial output accelerates 17.9% in May News Bites
INDUSTRIAL production supply last month suggest the push prices down, harm prof- Shoemakers to attend EU hearing
expanded at the fastest pace in central bank’s April 28 lend- its and cause more bad debts, A SHOE manufacturers’ alliance will attend a European hear-
two years in May, reinforcing ing rate increase may not be and ultimately lead to a sharp ing next Tuesday on anti-dumping taxes on Chinese footwear,
expectations the central bank enough to cool the economy. slowdown.” Xinhua reported.
will further restrict lending China wants to rein in a credit- Adjusting for distortions Xinhua said the hearing was organized by the European
in the world’s fourth-largest fueled investment boom that’s caused by the timing of the Union (EU) Trade Commission at the request of China Alli-
economy. creating excess capacity, driv- weeklong Spring Festival ance in Response to EU Anti-Dumping of Chinese Footwear.
Output climbed 17.9 percent ing prices and profits down in holiday, May’s increase was It did not say where the hearing would be held. Founded
to 706 billion yuan (US$88.2 some industries. the biggest since April 2004. in April, the alliance comprises more than 150 shoe manu-
billion) after rising 16.6 “This should send a signal to Rising consumer spending facturers which are jointly fighting new EU anti-dumping
percent in April, the Beijing- the government that it needs and surging exports have kept duties.
based National Bureau of
Statistics said in a statement
to take firmer measures to con-
trol investment and liquidity,”
production in the world’s big-
gest maker of steel and mobile
Banks need to improve risk management
yesterday. said Zuo Xiaolei, chief econo- phones expanding at more than COMMERCIAL banks in China need to improve their risk man-
Accelerating production, mist at Galaxy Securities in 16 percent each month in the agement and internal controls, the Financial News reported,
exports, retail sales and money Beijing. Higher capacity “will past year. (SD-Agencies) citing a senior official with the central bank’s investment arm,
Xie Ping, Central Huijin’s general manager, was quoted as
Mineral resources law revision mulled saying that listed banks with overseas strategic investors in
particular stand to benefit from foreign expertise. “Foreign
investors play an important role in risk control with improved
THE government is planning changes, which could “create make the mining policy in management structures and new technology,” Xie said.
to amend its mineral resources a more fair and reasonable China more market oriented,
law by 2008, potentially investment environment for the report said, adding that DPWorld to invest in Tianjin Port
improving multinationals’ the foreign companies.” the government wants to see DUBAI’S DPWorld, one of the world’s largest container-port
access to mining in the coun- Under the current mineral the law revised by 2008. operators, said it plans to invest US$500 million in a new con-
try, the China Daily reported. resources law, which was last A senior expert from the Min- tainer terminal in the northeastern city of Tianjin.
The newspaper cited a amended in 1996, foreign istry of Land and Resources was DPWorld said it met with a visiting delegation from Tianjin
source as saying that the Min- companies must undergo a quoted as saying that the min- and signed a letter of intent with the Tianjin Port Group to
istry of Land and Resources is long and complicated approval istry wants to improve the law develop a terminal on a man-made island off the city’s coast.
consulting an industry asso- process to gain mining licenses and added that China welcomes The terminal will have a capacity of 2.2 million TEUs (20-foot
ciation including Rio Tinto for commodities like gold and foreign investment in mining equivalent container units) and is expected to be operational
Group, Anglo American and copper, the report said. activities across the country, by 2011.
BHP Billiton on the planned The amendment aims to the report said. (SD-Agencies)
Shanghai GM resumes Cadillac production
Oil products pipeline opening in July A NEW made-in-China Cadillac model will be released in
November when Shanghai GM resumes production of the
brand after suspending manufacture earlier this year, the
A KEY pipeline that will products began yesterday, expected to be in the region of China Daily reported, citing a company spokesman.
transport oil products from ahead of its anticipated com- 20 million tons of crude oil a Chen Yanming told the paper the company would resume
western to eastern China is pletion in July. year, delivering supplies from local production of Cadillacs earlier than expected because of
expected to begin operations The 1,903-kilometer pipe- the Tarim Basin, Junggar Basin brisk sales of the Marque. The new model, which has yet to be
next month, a year ahead of line is expected to be able to and Turpan-Hami Basin. announced to the public, is expected to be GM’s flagship luxury
its counterpart for crude oil, transport a maximum of 10 Construction began in Sep- car, the paper said.
the China Chemical Industry million tons of oil products tember 2004 on the pipelines,
News said Tuesday. a year, mainly delivering oil which are seen as crucial to Indonesian airline orders Chinese aircraft
Both pipelines will run from products from three Petro- feeding the energy needs of MERPATI Nusantara Airlines, Indonesia’s second-largest
the Xinjiang region to neigh- China Co. petrochemical sub- eastern regions and cities. airline, will buy 15 Xinzhou-60 aircraft from China Aviation
boring Gansu Province, where sidiaries in Xinjiang. According to the report, the Industry Corporation I (AVIC I), Xinhua reported, citing sources
they will connect with a wider The crude oil pipeline, which pipelines were constructed by from the Chinese aircraft manufacturer.
network of pipelines that run is shorter at 1,878 kilometers, a subsidiary of China National The export order for the 50-seater passenger aircraft is the
to eastern provinces and major is forecast to begin operations Petroleum Corp. and costs biggest to date, Xinhua said. Citing AVIC I deputy general
cities such as Beijing. in summer 2007, the report have so far totaled 14.6 billion manager Hu Wenming, the news agency said the first aircraft
According to the report, added. yuan (US$1.8 billion). is expected to be delivered in September, with the rest to be
operational tests on the oil Its maximum capacity is (SD-Agencies)
delivered by the end of 2007.
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