Beijing building largest housing project in city’s history
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Beijing is building about 32,000 public housing units, the largest such project in the city’s history. Completion expected by end of 2017, 21st Century business herald reports, saying demand coming from new workers and people migrating to the capital.
Next year is crunch time for steel capacity cuts
China’s crude steel output rose in past seven months as gain in prices prompted restart of some idled capacity, adding to difficulty of making mandated cuts to production capacity in 2017, says Economic Information Daily citing steel association.
Residential land price continue to rise
Residential land prices in major cities grew more than 3% in the third quarter, with Shanghai jumping 6.91% from previous three months, Economic Information Daily says, citing ministry data. Prices in second tier cities like Xiamen, Nanjing and Tianjin gained 3%, though the price of commercial land in some cities slid.
Rules on public-private partnerships muddled
Two government bodies released regulations on public-private partnership projects that could cause confusion, reports Yicai. National Development and Reform Commission rules released Thursday on infrastructure projects may overlap with Finance Ministry rules in public services.
PPP projects in education lack content
Majority of public-private partnerships in education, or 88.74%, focus on building schools or other infrastructure, not content and services, says Caixin. As of August, there were 515 PPP projects in education sector, making up 4.99% of total and just 1.59% of PPP investment.
Guangdong gets tough on electricity users
Guangdong in January will force major power users to sign three-year contracts with one supplier, according to an unnamed source in the market cited by National Economic Daily.
China among six nations accounting for 60% of new Tuberculosis cases
China, Nigeria, Pakistan, India, Indonesia and South Africa are the six countries that accounted for 60% of world’s new cases of tuberculosis according to World Health Organisation cited by Caixin. WHO aims to reduce deaths from the disease by 90% by 2030, which would require investment of US$1 billion.
Jiangsu opens second asset management body
Jiangsu province is setting up a second asset management company to help repackage bad debt, primarily from state-owned industries, Caixin reports. Information sourced to China Banking Regulatory Commission.
Medical rehabilitation worth 700 billion yuan by 2020
Medical rehabilitation industry will be worth 700 billion yuan by 2020 as government accelerates development using new technologies, Shanghai Securities Journal says. Artificial intelligence, brain-computer interfaces and virtual reality are some of the technologies on the radar for government spending.
(Corrects amount in story to 700 billion yuan from 7 trillion yuan in earlier version.)