China Increases Petroleum Prices
China raised gasoline and diesel prices by 320 yuan ($47) per ton, a rise of 4 to 5 percent, from today. The National Development and Reform Commission (NDRC) said late Tuesday, that this equals a price hike of 0.24 yuan per liter of gasoline and 0.27 yuan per liter of diesel. The increase is the first price rise in five months and pushes domestic prices to record highs. The move is in line with increases in global crude prices.

More Affordable Houses to be Built in GD
Ministry of Housing and Urban-Rural Development yesterday held a televised conference, noting the importance of building more affordable houses for low-income families, and curbing housing price increases in some cities. More from our reporter Liu Chenshao.

Based on the work focus, Chen Yingsong, Deputy Director General of Guangdong's Housing and Urban-Rural Development Department announced the Province's plan in the future,

"Over the next three years, Guangdong should meet the target of building enough houses for 70,000 low-income families."

He also said that this year Guangdong will curb speculation in housing and the illegal action of keeping properties off the market. That cheats house buyers by claiming many houses have been sold, and thus raising property prices.

photo from: chneef.com

GD Plans to Invest Big in Strategic Rising Industries
Guangdong will allocate 10 billion yuan to support the development of modern, hi-tech industries. Governor Huang Huahua made the announcement at a symposium aimed to discuss ways to accelerate the change of the modes of economic development. Huang said, efforts will be made in five areas, with emphasis placed on building a modern industrial system, mainly in electronic information, new energy development in the car industry, and LED lighting.