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BEIJING, March 18 (Xinhua) -- China's government is set to order some central state-owned enterprises (SOEs) to quit real estate business as their land acquisitions are blamed for fuelling rise of urban housing prices, spokesman of the state assets watchdog Du Yuanquan said Thursday.The State-owned Assets Supervision and Administration Commission (SASAC) would require 78 centrally-administered SOEs, whose major business was not property development, to withdraw from the business, Du said in a SASAC press conference Thursday in Beijing.The SASAC gave no specific timetable for the withdrawal, but Du said it would require the 78 enterprises to step up business restructuring and gradually pull out of property development after all current real estate projects were finished.Housing prices in China's 70 large and medium-sized cities grew 10.7 percent in February from a year earlier, and were up 0.9 percent compared to the previous month, according to official figures.However, a total of 16 central SOEs, who have property development as major business, such as the China National Real Estate Development Group Corp. and the China Poly Group Corp., would continue in real estate, said Du.
NAIROBI, Feb. 11 (Xinhua) -- Somali pirates have released a fishing boat from Taiwan, China, and all of its crew held since April, a regional maritime official said Thursday."The Taiwanese ship was released this morning. The fishing vessel which has a crew of 30 from various Asian nationalities was seized in April last year," Andrew Mwangura, East Africa's coordinator of the Africa Seafarers Assistance Program, told Xinhua.The Win Far 161 was seized last April 4 near an island in the Seychelles, more than 1,100 kilometers off the coast of Somalia.The ship carried a crew of 30 -- 17 Filipinos, six Indonesians, five from the Chinese Mainland and two from Taiwan, China.Mwangura said 27 crew members were said to be safe, though a Chinese sailor and two from Indonesia died in captivity.The coordinator could not confirm whether a ransom was paid to secure the release of the 700-ton ship and crew.Piracy has been rampant off Somalia since the country slid into chaos after warlords toppled military dictator Mohamed Siad Barre in 1991.Somali pirates now hold at least seven ships and more than 160 crew members.The hijackings have prompted the international community to deploy security forces in the area to deter the pirates.

BEIJING, Jan. 27 (Xinhua) -- China's banking regulator asked lenders to keep credit growth at reasonable pace in 2010 and vowed to tighten supervision on property loans amid increasing risk of asset bubbles."Banks should reasonably control new loans, better manage the pace and try to achieve balanced issuance and steady growth of credit quarter by quarter, " Liu Mingkang, chairman of the China Banking Regulatory Commission (CBRC) at a meeting on Tuesday.Despite regulator's repeated warnings on risks hidden from the record 9.6 trillion yuan of new loans last year, banks rushed to lend more than 1 trillion yuan in the first month of this year in fear of the expected tighter loan policy in 2010 after the credit binge last year as media reported.An official with the Industrial and Commercial Bank of China told Xinhua the credit growth in the first ten days of January was a little bit fast, and turned smooth in the last days of the month.According to the statement posted on CBRC's Web site on Wednesday, Liu said the regulator will pay special attention to the changes in the property market, strictly enforce relevant policy, and beef up the "window guidance" over credit to the real estate sector.But he restated banks should continue to support first-time home buyers.Liu also told banks to continue lending to fund rural development, small business, consumer spending and environmental protection.He said banks should keep adequate capital and heed of resurgence of bad loans.
SHANGHAI, Jan. 15 (Xinhua) -- Chinese President Hu Jintao Friday called on the Chinese people to pool their strength and resources to make sure the Shanghai World Expo a success. With just 106 days to go before the Expo opening on May 1, Hu visited the Expo site Friday during an inspection tour in Shanghai. "Hosting the World Expo is not only a significant event of Shanghai, but also of the whole nation," he said, noting it was both the responsibility of Shanghai and the whole country to hold a successful Expo. Hu Jintao (L front), general secretary of the Central Committee of the Communist Party of China, Chinese president and chairman of the Central Military Commission, shakes hands with workers and personnel who work for the construction of the Shanghai World Expo park in Shanghai, east China, Jan. 15, 2010. Hu Jintao paid a visit here to inspect the preparation of Shanghai World Expo on Jan. 15 He urged Shanghai to make "all-out efforts" to efficiently complete the preparations and be a good host. He asked central government departments and local governments to take initiative and make concerted efforts in supporting the event. Hu Jintao (C), general secretary of the Central Committee of the Communist Party of China, Chinese president and chairman of the Central Military Commission, inspects the under-construction World Expo park in Shanghai, east China, Jan. 15, 2010. The Expo's organizing committee should enhance its leading role and supervision to push forward relevant preparatory work orderly, he said. Hu put forward six requirements on the Expo's preparatory work: - To ensure the Expo site's infrastructure building and exhibition arrangements be completed on time; - To ensure sound service and logistics; - Security should be fully guaranteed; - Foreign affairs work, including receptions of international guests, must be well handled; - To ensure efficient and effective publicity work; - To create a civilized, happy and peaceful atmosphere. Hu said though the Expo was a big challenge, he believed it would be a "successful, brilliant and memorable" event with the support of the Chinese people, especially the contributions of Shanghai officials and residents. The Shanghai World Expo, which is expected to receive 70 million visitors, will last from May 1 to Oct. 31. So far, 35 of the 42 self-built foreign pavilions have started interior decoration and exhibition arrangement, and 11 joint pavilions have been completed.
MOSCOW, Jan. 16 (Xinhua) -- An assembly line of Chinese automaker Geely was officially launched in Russia's Caucasus republic of Karachay-Cherkessia, local media reported Saturday. Russian car company Derways has started body welding and other assembling work of Geely-brand vehicles on Friday, according to Russian state TV channel Russia-24. Some 1,100 units were expected to be produced by the end of February, the first batch of which will be delivered to Moscow by Jan. 20. The annual production of Geely will be no lower than 12,000 units. Besides Geely, Derways was also scheduled to manufacture for other Chinese brands such as Li Fan, Great Wall Motors, Chery and Haima. The total annual output of the Derways company was estimated to reach 100,000 units. Local residents could enjoy price discounts when purchasing these cars, according to the company, which also foresees a great demand of Chinese vehicles on Russian market.
来源:资阳报