Measures Released to Boost Housing Sale
At a press conference held this morning (Feb 16th) on the side of the ongoing Guangdong People's Congress, the province's top legislature, the government announced it would continue to encourage people to buy houses thanks to different policies. Guangdong will gradually increase the number of beneficiaries and the amount of the housing accumulation fund, a provident fund accumulated by contributions from employees and employers. In addition, application procedures for loans will be simplified.
(Photo from:money.163.com)
Foreign investment in China plunges in January
Yao Jian, the spokesman for the Ministry of Commerce (MOC), said at a press conference today (Feb 16) that China's actual use of foreign investment plunged over 32 percent year on year to 7.54 billion U.S. dollars in January. The use of foreign investment has been falling gradually in China since October, when a 2.02-percent annual drop was recorded.
Guangdong's Foreign Trade Drop 30% in Jan
Guangdong's foreign trade column plunged 31% year-on-year in January, about 2% higher than the national decrease rate. In spite of drops in exports to traditional markets such as Hong Kong, the USA and the European Union, exports to Africa however, have recorded an increase of 5.4%.
Shenzhen to Issue 2 billion yuan Consumption Coupon Shenzhen plans to issue up to 2 billion yuan worth of coupons to boost consumption amid the sluggish economy. Chief of the Shenzhen Academy of Social Sciences, Le Zheng, confirmed that Shenzhen will become Guangdong's trial city for such a policy, providing important references for measures to be implemented in other cities. Le added that beneficiaries shall include Shenzhen citizens and residence permit holders, in all, around 9 million people.
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