Domestic news briefs
A global search for managerial talent is being launched in an effort to revive the fortunes of six unidentified state-owned companies, reported Xinhua.
Hebei province's former governor Cheng Weigao has been expelled from the Communist Party, suspected of using his post to benefit his wife and children. Xinhua reported that one of Cheng's former secretaries was given a death sentence at an initial trial, while the
other received a suspended death sentence.
Less than 80 per cent of meat and bean products met government quality standards
according to checks carried out in the first half of this year by the General Administration of Quality Supervision, Inspection and Quarantine. Excessive bacteria, use of prohibited additives and inadequate labelling were among the reasons why foods failed the tests.
China's unemployment rate climbed 0.2 percentage points to 4.2 per cent by the end of
June, with 7.95m registered urban jobless, according to the Ministry of Labour and Social Security. The government aims to keep the rate below 4.5 per cent this year.
Housing loans, taken out by 800,000 borrowers, reached Yn122.2bn by the end of June. Bank of China said that its market share of this lending had risen to 16 per cent.
The Plaza Business Centre has opened a facility in the Shangri-La Hotel in Shenzhen, Guangdong province. It contains 50 furnished offices and seven conference rooms.
Many of China's 3,800 local development zones were property projects masquerading as manufacturing parks and most did not have government approval, said Premier Wen Jiabao. The speech coincided with the announcement that State Council investigators would check and audit all zones over the following two months.