The service sector should play a dominant role in the national economy said Xia Nong, vice director of the National Development and Reform Commission (NDRC) Policy Department at a news conference April 24. The GDP ratio of energy-consuming sectors increased while the service sector, which demands little energy, decreased from 40.7% in 2004, to 39.9% in 2005, and to 39.5%[…..]
The need for comprehensive due diligence was made painfully clear this weekend when The New York Times ran a report tracing the path of a toxic syrup from Panama where it lead to a reported 365 deaths, 100 which are confirmed, back to its production facility in the Yangtze River Delta. Walt Bogdanich and Jake[…..]
The Shanghai Daily is reporting that Shanghai Port is now the second biggest port in the world for containers. According to the paper, the port handled 5.89 million TEUs in the first quarter of 2007, an increase of 28.1 percent from 2006. It now ranks second behind only Singapore for throughput of containers. The Yangshan Deep-Water Port,[…..]
The real estate market in Guangzhou is to face closer scrutiny following the launch Monday of a new campaign by municipal authorities. China Daily reported that eleven government departments will aim to expose firms’ tricks and misbehavior relating to property developments, marketing and sales activities. The departments involved include those responsible for the city’s development[…..]
China’s marine sector contributed US$272 billion or 10.01 percent of the country’s gross domestic product (GDP) last year according to a report on the nation’s marine economy in 2006. The report, issued by the State Oceanic Administration (SOA), said that last year’s output value of marine industries – fishing, transport, oil and gas exploitation, tourism[…..]
April 3 – The Ministry of Commerce (MOC) recently issued two guidelines on how domestic and foreign companies can apply for wholesale crude and refined oil licences. According to The People’s Daily, these guidelines are set to bring about de facto market deregulation but analysts say that without reform of the oil-pricing mechanism, new players will[…..]
Pudong International Airport (PVG) ranked as the sixth largest in the world for freight in 2006, handling some 2.16 million ton of cargo according to the Airports Council International. Pudong jumped two spots from last year on a rapid increase, 22.3 percent, of freight flights in 2006. In 2006, the airport handled 35,587 freight flights,[…..]
The National Development and Reform Commission (NDRC) announced that over the next three years, China’s two top energy giants China National Petroleum Corporation (CNPC) and Sinopec will spare no efforts to double output from the Xinjiang Uygur Autonomous Region to 44 million tons of oil, the People’s Daily reported.