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BEIJING, Aug. 12 (Xinhua) -- Prices of real estate in 70 major Chinese cities rose 7.0 percent in July on the same month of last year, 1.2 percentage points lower than the June level, according to the National Development and Reform Commission (NDRC) and the National Bureau of Statistics on Tuesday. The NDRC, the country's top economic planning organ, said the growth rate had slowed down for six consecutive months. The price rise was 11.3 percent in January, 10.9 percent in February, 10.7 percent in March, 10.1 percent in April, 9.2 percent in May and 8.2 in June. Visitors view models of apartment buildings in a real estate fair in Jinan, capital of east China's Shandong Province, on April 5, 2008. In July prices of new housing went up 7.9 percent, 1.3 percentage points lower than the month-earlier level. Haikou, Urumqi, Ningbo and Beijing took the lead in price rises. Seventeen cities experienced prices fall compared with the month earlier, including Haikou, Dali, Shenzhen and Chengdu among others. Prices of second-hand houses gained 6.0 percent year on year, 1.5 percentage points lower than June. New housing for non-residential use was priced 4.9 percent higher than last July, with prices of office buildings up 6.7 percent and those of commercial real estate up 4.1 percent.

SHANGHAI, Sept. 5 (Xinhua) -- The world's widest tunnel with an inner diameter of 13.7 meters completed its excavation here under the Yangtze River on Friday. The 8.9-km tunnel is part of a 12.6 billion yuan (1.84 billion U.S. dollars) bridge and tunnel project to link Shanghai with Chongming Island, the country's third largest after Taiwan and Hainan. The tunnel will accommodate a six-lane expressway and a rail line. When operational in 2010, travel to Chongming from urban Shanghai will take 20 minutes, according to Yu Xuanping, vice general manager of the Shanghai Tunnel Engineering Co., Ltd, builder of the tunnel. The company used a tunnel boring machine with a diameter of 15.43 meters, the largest of its kind, to excavate under the Yangtze. The tunnel and bridge project would make the transport networkson the southern and northern sides of the river more closely connected, said Wu Liangyong, a Chinese Academy of Sciences academician. The tunnel connects Shanghai's vast Pudong District with Changxing Island in the Yangtze, while the bridge connects Changxing and Chongming. Currently, Chongming is connected with Jiangsu Province to its north. Located at the Yangtze River mouth, Chongming covers an area of1,200 sq. km, equal to about 20 percent of Shanghai's total land area. China's central government plans to turn the island into a model of an eco-friendly town in the country. Shanghai municipal government is also paying great attention, with infrastructure projects being built within the island. Experts said the inconvenient traffic between Shanghai and Chongming once blocked the development of the island. The construction of the bridge and tunnel would help attract overseas investment and make the suburb a major channel of the Yangtze River Delta area.
BEIJING, May 30 (Xinhua) -- China and Vietnam will complete erecting markers along their land border by year end, a visiting Vietnamese leader said here on Friday. In talks with Chinese President Hu Jintao, Nong Duc Manh, Communist Party of Vietnam (CPV) Central Committee general secretary, reaffirmed efforts to meet this deadline set in 1999. China and Vietnam signed a treaty in December that year delineating their 1,350 kilometers of frontier. They officially started to plant land markers in 2002. The two countries finished their latest round of talks on land border demarcation in Beijing last week, vowing to speed up the work. Chinese President Hu Jintao shakes hands with Nong Duc Manh, Communist Party of Vietnam (CPV) Central Committee general secretary, at the Great Hall of the People in Beijing, May 30, 2008.Following the demarcation, China and Vietnam will also sign new documents on regulating the border within 2008, according to a statement on the talks between Hu and Manh. Manh, who arrived in Beijing at Friday noon, handed over to China a list of relief materials totaling 15 tons. According to the list, Vietnam will provide 150 tents and 10,000 boxes of milk to the areas hit by an 8.0-magnitude earthquake on May 12. After inspecting the honor guards of the People's Liberation Army, Hu and Manh held a two-hour talk in the Great Hall of People. The two reviewed the traditional friendship forged by the older leaders in the last century. They hailed the rapid growth of bilateral ties in recent years, citing Sino-Vietnam cooperation in trade, rule of country, regional and international issues, as well as problems left over from history. Hu proposed China and Vietnam seek stronger ties in culture, education, science and technology, agriculture and youth exchange. Manh echoed Hu's view, reiterating his country's efforts to work more closely with China in various fields. Hu called for an early blueprint outlining a five-year trade cooperation between the two countries. In response, Manh encouraged Chinese businessmen to invest in big projects in Vietnam and help his country develop in a sustainable manner. Hu suggested a proper solution to existing issues between the countries on the basis of friendly consultation and mutual benefit. Manh shared Hu's view and said the two countries should communicate promptly about their concerns. They also exchanged views on party building and international issues. After the talk, Hu and Manh witnessed the signing of several bilateral deals on protection and quarantine of animals and plants, as well as in other fields. During Manh's four-day tour, he will also visit the east Jiangsu Province.
NANNING, Oct. 5 (Xinhua) -- Chinese Premier Wen Jiabao said here Sunday that China's financial institutions have generally increased their strength, profitability and risk-resisting ability, and the financial system as a whole is sound and safe in face of the international financial crisis. Wen made the remarks during an inspection tour to Guangxi Zhuang Autonomous Region in southwest China. Chinese Premier Wen Jiabao greets workers as he visits an oil refinery under construction in Qinzhou City, southwest China's Guangxi Zhuang Autonomous Region, Oct. 4, 2008. He said that the world economic situation has had dramatic changes this year, the United States' subprime crisis has been deteriorating and is having an increasingly serious negative impact on the world's financial market and the world economy as a whole. Under multiple negative factors, both international and domestic, China has reacted actively and properly, made efforts to improve the predictability, pertinence and flexibility of macro-economic control policies, and timely solved outstanding problems in economic development. As a result, the country's economy has maintained its momentum of smooth and rapid development, Wen said. Generally speaking, China's economic foundations have not changed and the economy is developing towards the preset macro control targets, said the Premier. "We have full confidence in China's economic development and financial stability," Wen said, stressing that the most important thing is to do our own business well, maintain the stability of the economy and the financial and capital markets. "It is the biggest contribution to the world when a big country with a population of 1.3 billion is able to maintain a lasting, smooth and fast economic development," he said. On Saturday and Sunday, Wen inspected villages and factories in the cities of Beihai, Qinzhou and Fangchenggang, and talked with local people of different nationalities and from all walks of life. He said that the development of Beibu Gulf should focus on technological innovation and environmental protection to build into an important zone for international and regional economic cooperation. In Gaosha Village of Qinzhou, Wen inspected rice paddy and visited farmers' homes. He said that the government will further reinforce its support for agriculture, continue to increase subsidies to farmers and raise the minimum grain purchasing prices to mobilize farmers to produce more grain.Chinese Premier Wen Jiabao examines the growth of paddy at Gaosha Village in the Qinnan District of Qinzhou City, southwest China's Guangxi Zhuang Autonomous Region, Oct. 5, 2008. Wen made an inspection tour in Guangxi on Oct. 4-5.
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