125 Billion Yuan of Deals to be Signed at Mountainous Fair
The 5th Economy and Technology Cooperation Fair between the Pearl River Delta Region and the Mountain regions, East and West of Guangdong, continues its second-day agenda today (November 14) in Zhanjiang. The fair is expected to set a new record in the value of the contracts signed here, totaling over 125 billion Yuan, 70% higher than during the previous sessions. This fair is the largest one in size, with about 10,000 attendants.
Industrial growth slows to a crawl
China's industrial growth witnessed a serious slowdown last month as the effects of the global credit crunch and declining orders began to appear clearly in the country. The index of overall industrial growth rose 8.2 percent year on year in October, plunging 9.7 points from a year earlier. October's figures are the weakest in over seven years. Most economists attribute the slowdown to the ailing international financial service industries and the abrupt cut in orders for China's exports.
$132b investment for low-income housing The central government plans to invest 900 billion Yuan ($131.71 billion) on low-income housing constructions in the following three years. Qi Ji, vice-minister of the Ministry of Housing and Urban-Rural Development told Xinhua on Wednesday that the ministry plans to build over 2 million low-rent housing units, over 4 million affordable housing units, and reconstruct houses for over 2.2 million people in shantytowns in forests, farming and mining areas between 2009 and 2011.
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