Australia’s largest listed industrial property company, Goodman Group, is planning to invest up to $300 million to set up logistics parks in western China, where Beijing is currently making a big push. The conglomerate is considering cities such as Chongqing, Chengdu, Xi’an and Wuhan, which Goodman said are commercial and logistics hubs with good transport [...]
China’s National Development and Reform Commission (NDRC) approved an offer from Royal Dutch Shell and PetroChina to purchase Australian coal-seam gas company Arrow Energy. The NDRC, which approved the offer and waived the requirement to obtain clearance from the State Administration of Foreign Exchange of China, constitutes the last regulatory body standing in the way [...]
According to Shanghai Security News, China’s consumer price index (CPI) may fall in June as food prices continue to decrease. The report cites an unidentified source with close connections to China’s National Development and Reform Commission. However, the figures may still represent a 3.4% to 3.5% increase on the previous year, and Zhou Baoliang, a [...]
China International Capital Corp (CICC) predicted that China will see “severe” employment losses in 2011 as the company’s $586 billion stimulus concludes. In addition, rising wages may make foreign employers more cautious about establishing new facilities in China. The National Development and Reform Commission estimates that 5.6 million new long-term jobs and almost 50 million temporary jobs [...]
Huang Hanquan, assistant director of the National Development and Reform Commissions industrial institute has denied earlier reports claiming that he said China would not introduce a property tax for several years. Taiwan’s China Times quoted Huang as saying: “Taxes on holding of residential properties is impossible for at least another three years.” The introduction of [...]
China should be cautious in introducing new tightening measures due to uncertainties in the global and domestic economies continue to face uncertainties, according to an official from the National Development and Reform Commission. Xu Lianzhong, who heads the state planner’s price monitoring center, said a speedy exit from loose economic policies could prove detrimental given [...]
China will increase gasoline and diesel fuel prices as much as 4.6% after today. The average retail price of petroleum in gasoline or diesel form will rise $47 a metric ton, according to an announcement on the National Development and Reform Commission website. The fuel price increase alone will add an increase of 7 basis [...]
Anhui Conch Cement is looking to increase market share and boost profits off Beijing’s efforts to consolidate the country’s cement industry. Over the next three to five years, the government plans to streamline the cement sector by closing old, inefficient cement plants. Zhang Mingjing, Anhui Conch vice-general manager said, “This will give big cement companies [...]
China is set to issue a new foreign investment policy to attract quality and environmentally friendly foreign investment. According to Zhang Xiaoqiang, vice minister of the National Development and Reform Commission, “China encourages foreign investment in hi-tech, environmentally friendly industries instead of industries that consume energy and resources excessively and cause pollution.” Zhang said it [...]
Sichuan Tengzhong Heavy Industrial Machinery Co has withdrawn its proposed acquisition of General Motors’ Hummer unit after the deal failed to meet with approval from domestic regulators. Tengzhong had hoped to buy Hummer for $150 million, but its application to Chinese authorities appears to have stalled within the government bureaucracy. Tengzhong had applied for approval [...]
