GZ Clinches Deals Worth 30 Billion Yuan with SOEs and Large Enterprises
Yesterday (Aug 3rd), the Guangzhou government and local enterprises signed strategic cooperation agreements with central government-level State Owned Enterprises as well as with other large-scale enterprises worth over 30 billion yuan. These include big names such as the China State Shipbuilding Corporation and Bao Steel Group Corporation. 28 new projects will be set-up in Guangzhou to accelerate the pace of the city's industrial development. They involve car manufacturing, shipbuilding, marine engineering, nuclear facilities, logistics, and energy.

GM Sales Extend Robust Patch
The automobile industry performed well in July, a month when business is traditionally rather low. Dongfeng-nissan delivered over 53,000 cars within just one month, double the number of the same period last year and the best results in its history. General Motors said that its China sales hit over 144,000 units in July, an increase of 77.7% year-on-year and the best July ever. Analysts estimate that car sales in Chinese Mainland are expected to exceed 110 million in 2009. 

China Allocates 75m yuan to Continue Dairying Subsidies
The Ministry of Finance said on Monday it will continue subsidizing dairy companies' loan interest payments up to 75 million yuan, in a move to help them cut costs and protect the interests of farmers. These measures cover loans taken out by dairy companies to purchase raw milk from farmers after last year's melamine scandal. Last year, the country's dairy industry clasped after milk powder produced by Sanlu was found contaminated with melamine. This killed six children and resulted in the illness of over another 300,000.