China Digest

Economics and policy from China’s newspapers

Thursday March 2, 2017

US$9.45 trillion set aside for fixed assets in 2017: NDRC

The country plans to invest 65 trillion yuan (US$9.45 trillion) into fixed assets in 2017, Sina Finance reported Wednesday afternoon quoting Li Pumin, spokesperson of the National Development and Reform Commission. The figure was 60.65 trillion yuan as in 2016, the report added.

Net income of GEMs grew 38.15% in 2016: SZSE

Total net income of the 603 companies listed on the Shenzhen Stock Exchange’s Growth Enterprises Market (GEM) reached a record 93.2 billion yuan in 2016, a 38.15% increase compared to 2015, Sina Finance reported on Wednesday evening. It is the highest in five years, the report added.

Shanghai property rents drop for fourth straight month

Housing rents in Shanghai dropped to 77.2 yuan square meters per month in January, the fourth month of decline in a row, Yicai reported on Wednesday evening, citing Centaline Property Agency data. The drop is due to an imbalance between housing supply and demand after the long Lunar New Year break, many owners lowered rents, the report added.

‘Gradual launch’ is goal for pension funds investing in stocks

You Jun, the Minster of Human Resources and Social Security, said the move allowing pension funds to invest in financial markets will follow a gradual process depending on regional needs and planning, Caixin reported on Wednesday. You cautioned that stock markets was one of the options for pension funds, and it did not mean new capital would flood into the financial markets, it said. Pension funds had invested 360 billion yuan since the end of last year.

China Railway approves coal shipment to Hohhot, Taiyuan

China Railway Corporation had approved the shipment of close to 3,000 railcars from Tianjin Port to Hohhot and Taiyuan on February 24 to meet possible demand for coal, Caixin reported on Wednesday evening. This comes as the environment ministry will ban truck transport of coal in Tianjin by September this year in a bid to tackle air pollution, the report added. China Railway said increased allocation of railcars is to ensure a steady coal supply if required and it could handle the extra load following the switch from truck to rail for the 50 million metric tons of coal shipped from Tianjin port annually, it added.

95% of same-city mail must be delivered in three days

The State Post Bureau said in a directive that 95% of documents, letters and parcels within the city must be delivered in three days and it is five days for delivery in the same province, Caixin reported on Wednesday evening. The agency said the same-city and same-province delivery guideline comes amid a growing preference for couriers instead of postal services, Caixin said.