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BEIJING, Oct. 15 (Xinhua) -- Property prices in 70 major Chinese cities rose 9.1 percent year on year in September, the slowest growth rate this year, the National Bureau of Statistics (NBS) said Friday.The rate was down 0.2 percentage points from the 9.3-percent growth rate in August, a statement on the NBS website said.On a month-on-month basis, prices rose 0.5 percent in September.New home prices climbed 11.3 percent year on year in September, also up 0.5 percent from August.Prices for second-hand homes rose 6.2 percent from a year earlier and 0.5 percent on a month-on-month basis.Real estate investment continued to expand in the first three quarters, with the total standing at 3.4 trillion yuan (511.4 billion U.S. dollars), up 36.4 percent from the same period in 2009, the statement said.The property price growth rate peaked this year at 12.8 percent in April.To curb excessive rises in housing prices, the central government introduced a raft of policies in April, including higher down payments and an end to mortgage discounts.It also encouraged local governments to build more affordable housing to increase the supply of housing for low-income people.On Sept. 29, the government announced further measures to check the continuous rise in property prices, including by banning loans for third home purchases and instituting a 50 percent down payment requirement for second-home purchases and a 30 percent down payment for all first-home purchases.Xue Jianxiong, an analyst with the China Real Estate Information Corporation (CRIC), said the overheated property market will likely cool in the next few months.These government's moves will cause transaction volumes to tumble and ease price-increase expectations, Xue added.
TAIYUAN, Sept. 16 (Xinhua) -- China will flex its muscles to boost the low-carbon economy and green industry, in a bid to help upgrade the development mode of exports, said a senior government official Thursday.Gao Hucheng, Vice Minister of Commerce, said at an energy forum in Taiyuan, capital of Shanxi Province, that China has risen to become one of the world's largest exporters, though it is not a strong exporter yet, remaining at the low end of the global value chain.China's exports leaped in recent decades, mainly dependent upon low labor costs and sales of energy and resources.Further, China needs to put more efforts into producing high-end products and improving their quality through low-carbon and green technologies to expand the share of green products in exports, he said.The global financial crisis hurt the world economy and promoted nations to look to green industry for new growth, he said, and adding strategic new industries could be "a new growth point" for China's foreign trade.China would encourage major products, technologies and services in new energy and energy-saving sectors to tap the global market and support enterprises to invest abroad, Gao said, without giving details.Further, he said there was "no land boundary" in terms of low-carbon and green technology and expected international cooperation in this field.China was opposed to protectionist measures in any form, he added.

WASHINGTON, Oct. 6 (Xinhua) -- China's growth is projected to average 10.5 percent in 2010 and 9.6 percent in 2011, driven by domestic demand, the International Monetary Fund (IMF) said in a report Wednesday.The Washington-based international lending agency made the projection for the annual fall meetings this weekend of the 187-nation IMF and its sister lending organization, the World Bank."The slight moderation in recent activity is expected to continue through 2011 in light of tighter quantitative limits on credit growth, measures to cool off the property market and limit bank exposure to this, and the planned unwinding of fiscal stimulus in 2011," the IMF said in its report.The report said this year's sustained growth in retail sales and industrial production confirms that private sector activity has advanced beyond the lift from government stimulus."On average over 2010-11, private domestic demand is poised to contribute two-thirds of near term growth, and government activity about one third, whereas the contribution from net exports will be close to zero," the report said.Despite the robustness in domestic demand, the pickup in inflation in 2010 reflected mainly higher food prices rather than core inflation, the report said.The report said China's increasingly wide trading network is driving growth in numerous economies, especially commodity exporters.The report said Asia's medium-term growth depends on the rebalancing of drivers of growth -- greater reliance should be put on domestic markets instead of foreign demand.The report said such a rebalancing in China, the world's second largest economy, is critical to enhance the role of household consumption in domestic growth.The report also recommended that China implement reforms to health care, education, and pension systems to enhance the social safety net.
HANOI, Sept. 11 (Xinhua) -- A trade fair was held in Vietnam's capital city of Hanoi on Saturday with participation of companies from Vietnam and China's Guangxi Zhuang Autonomous Region.At the fair, more than 100 companies from China's Guangxi brought here nearly 200 projects in various sectors including resources development, agriculture products processing, agricultural machinery production, sugar production and high technology.Ma Biao, chairman of Guangxi Zhuang Autonomous Region said at the fair that Guangxi and Vietnam have seen strengthened trade and economic links in recent years.Vietnam has been Guangxi's largest trade partner for eleven years, said Ma. Vietnam is also a major destination for Guangxi's outbound investment.Ma said he is confident that cooperation between Guangxi and Vietnam will be further expanded and enriched in the coming time.A total of 64 cooperation agreements were inked at the fair, with the estimated value of 1.96 billion U.S. dollars.The trade fair is part of the activities held during Ma's six- day visit in Vietnam. Ma is leading a 1,000-member delegation here for trade and culture promotion.
BEIJING, Sept. 9 (Xinhua) -- Central banks should provide incentive mechanisms for banks to extend more loans to support the real economy, Zhou Xiaochuan, governor of the People's Bank of China (PBOC), or the central bank, said Thursday.Speaking at a forum in Beijing sponsored by Oxford University and the China Development Research Foundation, Zhou reviewed the worldwide central banks' role in helping grapple with the financial crisis, pointing out that zero interest rate policies adopted in many countries could discourage banks from extending lending.He said, however, that a central bank should maintain a certain interest rate margin, which will help banks to recover from damages brought by the global credit crunch and strengthen their abilities to extend loans.
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