China's liquor sales were worth ¥509.3 billion in 2010, including ¥271.3 billion of traditional Chinese baijiu, ¥129.4 billion of beer and ¥32.5 billion of wine, said Wang Yancai, director of the China Alcoholic Drinks Industry Association.
China's strategic grain reserves of about 400 billion kg are enough to meet local demand, said Chen Xiwen, a senior official of the office for rural development.
Starting May, anyone who has a departing air ticket from Hainan province, a tourist island off China's south coast, can buy ¥5,000 worth of duty free goods, according to a document released by the Ministry of Finance.
China's premium incomes rose 3.2% year on year to ¥308.3 billion in January-February, said the China Insurance Regulatory Commission.
China's biggest challenge in its plans to build 36 million affordable homes over five years is the ability to tap funding and draw developers to work on the project, according to Cushman & Wakefield Inc. The nation needs ¥1.3 trillion for the project this year, excluding land costs, Housing and Urban-Rural Development vice minister Qi Ji had previously said.
China will raise the taxes for rare earth exports by ¥30 and ¥60 per ton on April 1, according to the State Taxation Administration. The value of the nation's rare earth exports increased almost six fold in January-February, although export volume was just slightly up.
Alternative energy and renewable energy is expected to account for 6% of Beijing's total energy consumption by 2015, according to a meeting on the energy industry of the Chinese capital.
Inner Mongolia is planning to reduce the number of its coal miners to 100 by 2013 from currently 353 to consolidate the industry. Inner Mongolia is China's largest provincial coal producer.
China's demand for petroleum was up 4.2% month on month and 10.1% year on year to 36.65 million tons in February, according to Platts Energy.
Imax has reached a deal valued at $100 million to open 75 new theaters in China. The large-format film company will team with China's largest theater operator, Wanda Cinema Line Corporation, to build the theaters by 2014. Imax currently has 45 theaters open in China, with an additional 57 in the works. The company expects to have 300 theaters operating in China by 2016.
Zara said it plans to increase the number of stores in China to 42 from 30 this year.
$1 = ¥6.56