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China to invest $5bn to renovate rural houses: Xinhua SHANGHAI: China will provide 31.87 billion yuan ($5 billion) in subsidies for the renovation of rural households this year, the state-run Xinhua News Agency said on Saturday. The pilot scheme will cover 4 million poor rural homes, the agency cited a joint statement by the Ministry of Housing and Urban-Rural Development, the Ministry of Finance and the National Development & Reform Commission. Each dilapidated house will be given 7,500 yuan on average, while 130,000 poverty-stricken rural households located in the border areas will be granted another 2,500 yuan in subsidies each. Copyright Reuters, 2012 ...

Hong Kong property tycoons charged with graft: reports HONG KONG: Two of Hong Kong's richest property tycoons were charged with corruption on Friday along with a former senior official, in the biggest graft scandal the regional banking hub has seen, reports said. Sun Hung Kai Properties co-chairmen Thomas and Raymond Kwok were among five people charged under anti-graft laws and will appear in court later Friday, public broadcaster RTHK reported. Former chief secretary Rafael Hui was also charged, along with another Sun Hung Kai director, ...
Dubai Limitless nears $1.2bn debt deal: sources DUBAI: Limitless, the indebted property arm of Dubai World is close to sealing a $1.2 billion debt deal, potentially ending talks that have lasted more than two years, sources close to the negotiations said on Tuesday. The developer, a vehicle for most of Dubai World's overseas property investments, has proposed paying interest of 175 basis points over the London interbank offered rate (Libor) under the new terms, one banking source said. Lenders would be paid beginning in ...
Wen vows to keep property curbs BEIJING: China must firmly maintain its property tightening measures by targeting specualtive demand over a long period, Premier Wen Jiabao was quoted as saying on Saturday. "Currently, the property market adjustment is still at a crucial stage and we must unswervingly continue the work and make the fight against speculative property investment demand a long-term policy," the official Xinhua news agency quoted Wen as saying during a trip to the eastern province of Jiangsu. Officials have repeatedly ...
China housing projects seek over 100bn yuan in loans HONG KONG: Chinese major provinces are seeking more than Rmb100bn (US$15.7bn) in loans to back a series of government-backed housing projects, sources said. The Shanghai government is raising up to Rmb40bn in loans, while Hunan is seeking up to Rmb30bn. According to banking sources, Chongqing, Gansu, Guangzhou, Henan, Jiangxi and Shanxi are also seeking loans for their subsidised housing projects. Copyright Reuters, 2012 ...


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Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-2.197 bln
Exports $1.729 bln
Imports $3.926 bln
WeeklyNovember 23, 2015
Reserves $19.713 bln