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BEIJING, Aug. 10 (Xinhua) -- China's home prices continued to rise in July as bank loans surged and the country's economy improved. Home prices in 70 large and medium-sized Chinese cities rose 1 percent in July from a year earlier, according to a joint statement issued Monday by the National Development and Reform Commission and the National Bureau of Statistics. The prices climbed 0.9 percent from June, which saw a 0.8 percent gain over May. Prices of new homes in the listed cities rose 0.3 percent year on year in July, and 1.1 percent from June. New home prices increased in 43 cities, including eastern Ningbo City and northwestern Yinchuan City, which saw growth rates of 6.4 percent and 5.4 percent respectively. Graphics shows China's housing sales price in July increased 1.0 percent year-on-year in 70 large and medium-sized cities, according to the State Bureau of Statistics on Aug. 10, 2009. Prices fell in 26 cities. The northern city of Shijiazhuang and southern city of Shenzhen witnessed price drops of 5.5 percent and 4.6 percent in July year on year. Second-hand homes in the 70 cities rose 3 percent in July from the same period last year and 0.9 percent from June. In the first seven months, property investment hit 1.77 trillion yuan (259.44 billion U.S. dollars), up 11.6 percent year on year. The rise was1.7 percentage points higher than the first six months. Over the same period, the floor area of property sold stood at 417.55 million square meters, up 37.1 percent year on year. The value of property sales jumped 60.4 percent to 1.96 trillion yuan. Chinese banks lent a record 7.37 trillion yuan of yuan-dominated loans in the first half, exceeding the annual target of 5 trillion yuan. The country's central bank announced earlier this month that new loans to home buyers in the first half rose by 263.3 billion yuan year on year to 479.3 billion yuan, boosted by an improving property market performance. New credit for property developers increased by 221 billion yuan year on year to 403.9 billion yuan, said the central bank. Premier Wen Jiabao reaffirmed over the weekend that the government's relaxed monetary policy would continue.
BEIJING, Sept. 28 (Xinhua) -- China's Ministry of Commerce (MOC) issued a statement late Monday saying it would approve U.S. automaker General Motors Co.'s (GM) plan to buy part of parts supplier Delphi Corp, but set conditions on the deal to avoid restricting competition. The approval came after an anti-monopoly probe by the MOC into the deal last week and negotiations with the two companies over the deal conditions, aimed to avoid exclusion or restriction of competition, according to the statement. The conditions include a ban on GM and Delphi exchanging trade secrets on Delphi's other Chinese customers, to prevent GM from getting confidential and competitive information. Delphi should also maintain the timeliness and quality of supplies indiscriminately to the other domestic automakers, at market prices. The ministry said it had discussed with the two companies its concerns on competition, and GM and Delphi had come up with solutions. According to a Dow Jones report Monday night, authorities in the U.S. and E.U. had earlier given their approval for the deal, after Delphi, GM's former parts division, received approval from a U.S. court to sell assets to its lender and GM. The report said this would clear the way for the auto-parts supplier, which operates 17 wholly-owned entities and joint ventures in China and 21 manufacturing sites, to end its four-year stay in bankruptcy. Under China's anti-monopoly law, mergers and acquisitions that could impact the domestic market must undergo an anti-monopoly review.
BEIJING, Sept. 17 (Xinhua) -- Chinese police have confiscated close to 53,000 guns by the end of August in a nationwide crackdown started in March this year, and 9,849 suspects involved in gun-related crimes were punished, the Ministry of Public Security (MPS) said Thursday. The ministry started the special crackdown on explosives and gun-related crimes in March, and said it would continue till China's Oct. 1 National Day celebration. The crackdown is part of the ministry's campaign to maintain public stability, as this year marks the 60th anniversary of the founding of the People's Republic of China. Police also confiscated more than 2 million bullets and 120,000imitation guns, the ministry said. About 12 percent of all guns confiscated were seized in the southern Hainan Province, while about 17 percent of the confiscated bullets came from the central Henan Province, the ministry said. The southern province of Guangdong seized 34,690 imitation guns, which took up one fourth of the total. Meanwhile, the MPS urged that efforts to crack down on gun-related crime must not be relaxed yet. Police forces should mobilize the public to report to the ministry if they have information about gun-related crimes, the ministry said on its website. About 60 percent of the guns confiscated by the police were handed in by the public voluntarily, the ministry said.
HONG KONG, Sept. 8 (Xinhua) -- The Commercial Aircraft Corporation of China displayed a scale model of its jetliner C919,the country's first home-grown large commercial airliner, for the first time at the Asian Aerospace '09 on Tuesday. With a scale of one to ten, the model was so far "the most precise one put up for public display," said Guo Bozhi, president of the Shanghai Aircraft Design and Research Institute, a unit of the Commercial Aircraft Corporation of China, or COMAC. The mockup was displayed at a prominent position at the Asian Aerospace, Asia's leading air show, side by side with industry giants like Boeing and Airbus. Together with some ten other Chinese mainland-based manufacturers, suppliers and service providers at the show, it attracted attention of media from around the world. A mockup of jumbo jet C919, the major project of the Commercial Aircraft Corporation of China (COMAC), is displayed at the Asian Aerospace '09 in Hong Kong, China, Sept. 8, 2009. COMAC is a company established in 2008 with the State Council approval to develop C919, the first home-made jumbo jet of China. It is expected to enter service in 2016 "It's the first time that China has put a face in front of the global aviation industry," said Richard Thiele, global head of sales for Reed Exhibitions, organizer of the show. COMAC has currently sent out requests for proposal, or RPFs, to over 100 potential suppliers, both domestic and international, and signed memorandums of understanding with nine domestic airframe suppliers. The company has been in touch with engine suppliers including General Electric, Rolls Royce and Pratt&Whitney, Guo said. A mockup of jumbo jet C919, the major project of the Commercial Aircraft Corporation of China (COMAC), is displayed at the Asian Aerospace '09 in Hong Kong, China, Sept. 8, 2009The Shanghai-based company has been using standard bidding process in line with international practices for the systems and equipment it needed for the C919 project, said Wang Wenbin, assistant general manager of COMAC. COMAC was set up with state approval in 2008 to develop China's first home-grown jumbo jet. It has a registered capital of 19 billion yuan (2.78 billion U.S. dollars), with the State-owned Assets Supervision and Administration Commission as the biggest shareholder. The company has said the maiden flight of C919 was planned for late 2014, with delivery expected by 2016. It was intended as a single-aisle airliner to target the short and medium haul markets in eight to ten years from now, Wang said. If successful, COMAC plans to produce 50 C919 aircraft each year at the early stage and annual production could reach 100 or even more at a later stage, depending on how it is received by the market, Guo said. A mockup of jumbo jet C919, the major project of the Commercial Aircraft Corporation of China (COMAC), is displayed at the Asian Aerospace '09 in Hong Kong, China, Sept. 8, 2009. C919 has a standard range of 4,075 kilometers, and the extended range can reach a maximum of 5,555 kilometers. It has a designed capacity of 168 seats for the full economy class version and 156 seats for mixed class version. Wang said China has been behind leading industry players in commercial airliner development and is aspiring to have its own home-made large commercial airliner. COMAC plans to develop the C919 under the cooperation model involving suppliers and main manufacturers, and international partnership are welcome, he said.
BEIJING, Aug. 8 (Xinhua) -- East China is bracing for typhoon Morakot's approach after it slammed into Taiwan Friday night. Weather forecasters said late Saturday Morakot was likely to land on the coast from Cangnan, Zhejiang province, to Xiapu, neighboring Fujian province, between 8 a.m. and 10 a.m. Sunday. Although the typhoon this year is expected to weaken to a tropical storm before it arrives in the Chinese mainland, it was packing winds of 137 kilometers an hour at 7 a.m. Saturday and churning northwestwards at a speed of 15 to 20 kilometers an hour. The urban area of Linbian Township in Pingtung County of southeast China's Taiwan, is flooded Aug. 8, 2009, because of heavy rainfall brought by typhoon "Morakot". It has already unleashed torrential rain in Fujian where, at five sites, water levels have been recorded at 0.02 to 0.66 meters above warning levels. A man calls for people to evacuate to avoid typhoon in Cangnan County, east China's Zhejiang Province, Aug. 8, 2009. The province has evacuated around 317,000 people to avoid the approaching Typhoon Morakot so far. The earlier tropical storm Goni has also wreaked havoc in South China Sea, leaving as many as 156 fishermen and crew members from Cambodia, Vietnam and China missing at once. Chinese maritime authorities had rescued 146 by 6 p.m. and the remaining 10 from China were still missing. PREPARATION IN FUJIAN More than 480,000 people in Fujian have been evacuated and its Zherong County received more than 300 mm of precipitation on Saturday afternoon. In Luoyuan county of Fuzhou city, Fujian's capital, people stayed at home during the weekend and roads were almost empty. Fewer sellers appeared in the county's vegetable market. Fishing boats moor at a port to avoid the approaching Typhoon Morakot in Jinjiang, southeast China's Fujian Province, Aug. 8, 2009."The fields were flooded," said Li Sailian, a vegetable seller. "Strong winds broke the ropes tying down the horsebeans, and the crown daisies (chrysanthemum greens) were destroyed," she said. Li brought all her available stock to the market, fearing the storm would destroy it completely. In downtown Fuzhou, where several big trees have already been toppled by gale-force winds, people were rushing to supermarkets for necessities before the typhoon arrived. All flights from Saturday noon onwards at the airport in Fuzhou were cancelled, leaving more than 120 passengers stranded. Airport staff were helping with refunds. Seventeen of the 312 flights to and from the airport in coastal Xiamen city were cancelled, most of which were heading to Anhui, Guangdong and Taiwan. In Putian City, also in Fujian, all scenic sites and ports have been closed and school classes suspended. A team of 26,222 people has been formed and equipped with flood-control materials, said Huang Dongzhou, director of the city's flood control office. All of the city's 7,168 fishing ships have returned to harbor, Huang said. The province's Ningde city is strengthening its defences to bear the brunt of Morakot, local meteorological authorities said. People there are also reinforcing reservoirs with bricks and stones. Water in the city's 20 major reservoirs is only at 54 percent of their combined capacity, so officials with the flood control office said they think the rainfall will help with drought relief, as long as proper measures are taken to ensure safety. Residents are also busy reinforcing their own houses. Chen Kongsheng, a 61-year-old man, has attached four large rocks to the girders of his house, so that the typhoon "won't tear off his roof". About 118,000 people in the city have been evacuated, said Chen Rongkai, Communist Party chief of the city. Ningde has readied 103 rescue boats, 15 rafts and 8,300 life jackets to help people affected by the typhoon. EFFORTS AND TROUBLES ELSEWHERE In adjacent Zhejiang Province, rainfall exceeded 50 millimetres on 6.8 percent of the province's land on Friday night. The highest reading was 110 millimetres in Cangnan county bordering Fujian. An expressway from Wenzhou of Zhejiang to Fujian was closed for 12 kilometers, while another from Hangzhou to Anhui Province was cut by landslides. Waves from approaching Typhoon Morakot hit a dike in Cangnan County, east China's Zhejiang Province, Aug. 8, 2009. Power supply to 80 villages was also cut. Nearly 500,000 residents and tourists in danger areas had been evacuated by 9 p.m. and the province has called nearly 30,000 ships back to harbor. More than 50,000 soldiers were prepared for emergencies in Zhejiang, said the local government. Shanghai was put on high alert and the World Expo venue is being protected around the clock. An 80-year-old man is evacuated in Cangnan County, east China's Zhejiang Province, Aug. 8, 2009. The province has evacuated around 317,000 people to avoid the approaching Typhoon Morakot so farMore than 80 foreign ships were delayed or had their voyages cancelled. "We are unlikely to resume if the typhoon moves northwestwards," said the captain of a Japanese cargo ship, which was scheduled to sail for Japan Saturday at noon. In addition, more than 140 flights in Shanghai had been delayed by about 10 p.m.. Anhui issued its first typhoon warning this year, and advised residents to stay indoors. East China's Shandong province has also warned local governments to take measures beforehand to reduce losses from extreme weather. Morakot, which means "emerald" in Thai, is the eighth storm to hit China this year. It landed in Hualien of Taiwan at 11:45 p.m. Friday, and left at least six people dead or missing. A further 12 were injured. Morakot also overturned cars and cut power supplies. WAVE ALERT LEVEL RAISED On Saturday afternoon, the National Marine Environmental Forecasting Center upgraded its alert level for both stormy tide and sea wave from "orange" to "red", the highest level. The center said as a result of Typhoon Morakot, the stormy tide along the coast of Zhejiang Province and northern part of Fujian Province would be 0.5 meters to 1.8 meters high until Sunday afternoon. The sea in southern part of the East China Sea and Taiwan Strait will be very rough, with monster waves as high as eight meters, the center warned. Other coastal areas from Shanghai to Guangdong Province will all experience abnormally high waves, from 2.5 meters to six meters high, it said. China adopts a four-grade warning system for stormy tide, tsunami, sea ice and sea wave, which uses four colors (red, orange, yellow and blue) to indicate different levels of emergency.