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BEIJING, April 13 (Xinhua) -- House prices in 70 major Chinese cities fell 1.3 percent in March from a year earlier, the National Bureau of Statistics said Monday. The month-on-month figure, however, rose 0.2 percent in March. In the first quarter, the area of commercial houses sold rose 8.2 percent to 113 million square meters and sales jumped 23.1 percent to 505.9 billion yuan (74 billion U.S. dollars), the NBS said. Prices of new houses fell 1.9 percent year-on-year last month but rose 0.1 percent from February. Prices for second-hand houses rose 0.3 percent month-on-month despite of a decline of 0.4 percent from a year earlier. Analysts warned it was still too early to say the property market had revived, as sales were mainly driven by surging credit and by stimulus policies, such as tax cuts. Other indicators, such as land purchases by developers, had shown no signs of recovery. Floor areas of newly built houses in the first quarter tumbled 16.2 percent to 201 million sq m. The decline was 1.4 percentage points more than the January-February figure. Land purchased for homebuilding fell more than 40 percent in the first quarter to 47.42 million sq m, and the actual area developed shrank 11.3 percent to 52.2 million sq m. China Vanke, the country's biggest property developer by market value, reported on April 11 its first-quarter sales rose 21 percent to 12.22 billion yuan. Those of Poly Real Estate Group, the second-biggest, doubled to 6.48 billion yuan.
VALLETTA, Feb. 22 (Xinhua) -- Chinese Vice President Xi Jinping concluded his six-nation tour here Sunday and left for home. Xi arrived in Valletta on Saturday for a two-day official visit to Malta. During his visit, Xi met with Acting Maltese President George Hyzler, Speaker of House of Representatives Louis Galea and held talks with Prime Minister Lawrence Gonzi. During the meeting with Hyzler, Xi said that Sino-Maltese relations have been developing very well in recent years, with a frequent exchange of high-level visits, enhanced mutually beneficial cooperation, and active exchanges in such fields as culture, education and judicature. Chinese Vice President Xi Jinping (R, front) inspects the honor guards at a welcoming ceremony held by Maltese Prime Minister Lawrence Gonzi (L, front) in Valletta, capital of Malta, Feb. 22, 2009. China and Malta understand and support each other in major international and regional affairs, he said, adding that the two nations are "old friends and good friends" that have stood the test of time. For his part, Hyzler thanked China for the sincere help it has provided for Malta, and congratulated China on the great achievements of its modernization drive. He also noted that there has been a good cooperative relationship between Malta and China. Chinese Vice President Xi Jinping (L3, rear) and Maltese Prime Minister Lawrence Gonzi (L4, rear) attend a signing ceremony for a series of agreements between China and Malta, in Valletta, capital of Malta, Feb. 22, 2009While meeting with Galea, Xi said that parliamentary exchange is an important part of Sino-Maltese relations, and that strengthening exchange and cooperation between the two sides is of great significance for the development of bilateral ties and friendship between the two peoples. Both Hyzler and Galea reaffirmed that the Maltese government and parliament will firmly stick to the one-China policy. During talks with Prime Minister Gonzi on Sunday morning, Xi said China hopes to consolidate Sino-Maltese cooperation in bid to obtain new and fruitful results through actions to deal with the challenges stemmed from the financial crisis. Together with Gonzi, Xi attended the signing ceremony for a number of agreements on bilateral cooperation in economy, culture and judicature. On Saturday, the Chinese vice president also met with former President Guido de Marco and Labor Party leader Joseph Muscat. Malta was the final leg of Xi's six-nation tour, which also took him to Mexico, Jamaica, Colombia, Venezuela and Brazil.

BEIJING, Feb. 6 (Xinhua) -- The worst drought in half a century in northern China will continue until next month, although it will be eased slightly by rainfall forecasted for the next ten days, according to the China Meteorological Administration (CMA) on Friday. In March, rainfall in most parts of the wheat-growing areas in northern China is expected to be slightly less or close to normal. However, the wheat crops in Hebei, Shanxi, Shaanxi, Shandong, Henan and Anhui will continue to suffer, said Xiao Ziniu, director of the National Climate Center (NCC) under the CMA said at a videoconference. Workers of a power company help a farmer to irrigate the field in Wuhe County, east China's Anhui Province, Feb. 5, 2009. China raised the drought emergency class Thursday from level two to level one, the highest alert, in response to the worst drought to hit northern China in half a century, according to a State Council meeting.China declared the highest level of emergency on Thursday in response to the rare drought which began in November. President Hu Jintao and Premier Wen Jiabao have ordered all-out efforts to combat the severe drought in the country's vast wheat-growing area to ensure a good summer harvest. About half of the total, or 78.77 million mu (5.25 million hectares) of the affected wheat lands have been irrigated in the nation's eight wheat-growing provinces as of Feb. 5, according to data released by the Ministry of Agriculture (MOA) on Friday. Soldiers of armed police force help a farmer to irrigate his field in Huainan, east China's Anhui Province, Feb. 5, 2009. The ministry said it would offer farmers subsidies on irrigation equipment purchase to aid the relief work. Prices of the facilities should not be higher than the market price for last year. Buying water pump and the watering machinery will be subsidized to meet the urgent demand of the anti-drought effort, said an official with the ministry, stressing that the product quality should be insured. The area of affected crops has expanded to 161 million mu by Feb. 6. 4.37 million people and 2.1 million livestock are facing drinking water shortage, according to data released by the Office of State Flood Control and Drought Relief Headquarters. People barrel drinking water supplied by the local government at Chengguan Township in Ruyang County of Luoyang City, central China's Henan Province, Feb. 4, 2009. The city had received a reduced effective rainfall since October 2008, almost 80 percent less than in the same period of previous years. The local government has allocated some 25 million yuan (3.65 million U.S. dollars) for drought relief and crops protectionThe scarcity of rain in some parts of the north and central provinces is the worst in recorded history, as the drought spanned from autumn to winter -- a weather trend not witnessed in years, according to Sun Zhengcai, the Minister of Agriculture. The situation in some areas is extremely severe, he said. Lack of rain has created a layer of three-to-ten-centimeter of dry soil in many parts of northern China, Sun said. As the drought will not be relieved in the short-run, more seedlings are likely to be killed as spring approaches, which could threatened the summer harvest. Photo taken on Feb. 5, 2009 shows a dead wheat seedling in the farmland of Taiping township of Huining County, northwest China's Gansu Province. The county has suffered from serious drought since September 2008 with about 150,667 hektares of farmland and 184,000 people and 326,000 livestocks short of water. MOA data showed more than 2.3 million mu of wheat seedlings in Henan, Anhui and Shandong provinces had perished. This year's summer harvest became more unpredictable as Puccinia striiformis, or stripe rust, one of the most damaging wheat disease began to show signs of spreading across the nation, MOA warned. The dangerous disease, which could cause losses up to 40 percent, has affected more than 11.3 million mu (753,000 hectares) of wheat in seven provinces, 4.6 million mu more than the same period last year. The northwestern Gansu and Ningxia saw the worst outbreak in 19 years.
BEIJING, Feb. 13 -- Chinese banks issued 1.62 trillion yuan (7 billion) in new loans in January, up 101 percent year-on-year, prompting some economists to say the government might not cut interest rates for the time being to boost the economy. The massive jump in lending is equal to about one-third of the loans issued in the whole of 2008, a year that began on a generally tight credit line, the central bank said yesterday. M2, which includes cash and all types of deposits and indicates overall liquidity in the financial system, grew in January, too, by 18.8 percent year-on-year. It increased 17.8 percent in December. The massive growth in lending comes at a time when banks are rushing to cherry-pick the juiciest stimulus-package projects, especially major infrastructure ones that need long-term investment, the economists said. Chinese banks issued 1.62 trillion yuan (7 billion) in new loans in January, up 101 percent year-on-year The government announced a 6-billion package on November 9 to boost domestic demand and shore up investment. Though the central government will shoulder one-third of the cost, banks will play an important role in financing the construction of bridges, railways and highways. "The banks are fighting for the best projects in the government's stimulus package," said Ha Jiming, chief economist of China International Capital Corp. "It's not surprising to see that an array of the deals were sealed in the past month." "The massive lending growth minimizes the need to further cut interest rates heftily," said Lian Ping, chief economist with Bank of Communications. "The liquidity problem should ease with such a growth." The central bank has cut the benchmark lending rate by 2.16 percentage points in the past four months and reduced the deposit reserve requirement ratio in order to ensure there's enough liquidity in the market to boost the economy. The growth in lending could also prove to be a blessing for cash-strapped domestic enterprises trying to stay afloat amid shrinking overseas demand and waning consumer confidence. Central bank figures show bill financing, which supplies working capital, accounted for 39 percent of the new loans. Medium and long-term corporate loans made up 32 percent. "It (growth) reduces the default risks of domestic firms, which in turn eases worries over bank asset quality at least in the short term," said Sun Mingchun, an economist with Nomura International. The economists said the dramatic rise in lending could be partly attributed to pent-up demand for loans last year. The central bank had imposed a curb on lending till November last year to combat inflation and prevent the economy from overheating. That left "many firms, especially small- and medium-sized ones, facing a severe cash flow problem", Sun said. Policymakers lifted the curb in November and raised the target for M2 growth to 17 percent for 2009, up from 16 percent that had been in practice since 2006. The move is expected to ensure there's enough liquidity in the market to spur investment and boost the economy, whose growth dropped to a seven-year low of 6.8 percent in the fourth quarter last year. "Credit expansion in the first quarter of this year is expected to be very high because banks can maximize investment returns by front-loading new loans," said Jing Ulrich, managing director and chairwoman of China Equities at JP Morgan. But Ulrich cautioned against a possible rise in credit risk because the increase in liquidity could cause a sharp rise in banks' non-performing loans.
BEIJING, March 3 (Xinhua) -- A Taipei court has rejected here Tuesday former Taiwan leader Chen Shui-bian's appeal against his detention and ordered that he be held in custody for a further two months, starting on March 26. According to the island's law, a defendant whose maximum, basic, potential sentence is below ten years should not be held for more than three months during trial. If necessary, courts can prolong the detention for no more than two months every time. The detaining period can be prolonged for at most three times. However, Chen Shui-bian was accused of many corruption charges and his most severe basic sentence could be life, which made the court consider prolonging his detention more than three times. Chen was first detained on Dec. 30, 2008. According to the resolution made Tuesday by the Taipei court, the charges against Chen were very severe, and he had repeatedly disturbed the judicial procedure to protect himself and delay the litigation. "Under the current circumstances, it will be very hard to hold more trials if Chen Shui-bian is not detained," the court said in the resolution. It added that since Chen was likely to destroy or change evidence and collude with witnesses, it wouldn't be effective enough to confine his living compared to detention. "Thus Chen's appeal for repealing the detention was rejected," it said. Chen and his wife are accused of taking bribes worth 100 million New Taiwan dollars (29 million U.S. dollars) and 6 million U.S. dollars in a corporate land procurement, and the couple are also allegedly involved in deceivingly pocketing over 104 million New Taiwan dollars of special funds. Chen and his collaborators are also accused of laundering the illegal income.
来源:资阳报