Davos forum debates financial reforms, economic recovery
The Davos forum opened yesterday (Jan. 27) focusing on how to improve the regulation of the financial sector to avoid future crisis and how the global economy could recover sustainably. Whilst there is a wide consensus that the global financial system needs to be better regulated, participants at the meeting differed on what changes should be made, with some particularly warning against over regulating.

Urban Residents' Income up 9.1%
In 2009, Guangzhou's GDP reached a record high of RMB 911 billion (preliminary figure), up 11.5 percent over 2008. The income of both urban and rural residents saw a rapid growth. The average disposal income of urban residents rose 9.1% to RMB 27,610, with salaries rising 8.7 percent on average. The net income of rural residents rose 12.6 percent to RMB 11,067. Rising incomes translated into a booming consumer market, with retail growing 16.2 percent to RMB 364 billion.

First Mass Transit Hub to Open
Construction work on Jiaokou Coach Terminal, the first mass transit hub in Guangzhou, finished on January 26 and should open tomorrow, ahead of the Chinese Lunar New Year.
The 1st floor of the terminal is the coach and bus station, offering connections to Foshan and other cities in Guangdong. On the 3rd floor of the terminal, passengers can directly board metro line 5.

Shenzhen Development Bank Dips Despite 700% Profit rise Forecast
Shenzhen Development Bank (SDB), one of China's largest city commercial banks, slipped 0.63 percent to close at 21.91 yuan (3.2 U.S. dollars) per share on Wednesday despite forecasting a 700-percent jump in annual net profits last year. In a statement filed to the Shenzhen Stock Exchange, SDB said it expected last year's net profit to be over 5 billion yuan (733.1 million U.S. dollars), and earnings per share to be about 1.6 yuan.