China's foreign-exchange reserves totalled US$954.5 billion at the end of July, Vice President Zeng Qinghong disclosed in an undated essay carried on the Web site http://www.studytimes.com.cn, the Wall Street Journal reported. China's central bank issues official figures on the nation's foreign-exchange reserves on a quarterly basis. At the end of June, China's foreign-exchange reserves totaled […]
Category: Economics & Trade
The profits of China's 500 top businesses rose 23% in 2005 to US$81.4 billion, the China Enterprise Confederation said Monday in a report posted on the group's website. Petrochemical, natural gas exploration, banking and ferrous metals companies accounted for almost half of the total, or US$39.4 billion. Of the 500 companies, 349 were state-owned. Their […]
[photopress:Chinahouse_1.jpg,full,alignright]According to the Ministry of Construction, reported by Chinese news agency Xinhua, ‘four out of five of China’s urbanites own their own residences and 94 per cent own some form of accommodation.’ As China’s social housing system develops, a growing number of people, especially in urban areas, will purchase their own houses with a combination […]
[photopress:mini_Li_Sze_lim.jpg,full,alignright]Guangzhou R&F Properties, the Mainland developer that constructed the Ritz-Carlton and Grand Hyatt hotels in Guangzhou, is confident that it will still be able to achieve its sales target for the year despite a 60 per cent drop in interim net profits. Shares of Guangzhou R&F fell sharply after the company declared a dip in […]
[photopress:Beijing_hotel.jpg,full,alignright]Almost half of the electricity used in Beijing’s residential buildings is consumed by 311 hotels rated three stars or more. Thus 5.4 percent of residential floor area uses over 50 per cent of electricity. Chen Huaiwei, director of the energy conservation center of the municipal commission of development and reform, released this statistic at the […]