Partial Pension Fund Money May Go to Stock Market
Part of China's pension funds will be open to investment in the stock market in the future, according to Dai Xianglong, director of the National Council for Social Security Funds. As of the end of 2010, the balances of regional pension funds totaled ¥1.5 trillion, which could only be invested in low-yield bank deposits and government bonds.
More Luxury Cars to Be Sold in China Than Germany
The number of luxury cars sold in China may climb 39%,to 939,000 in 2011, exceeding the 914,000 vehicles that will probably be delivered in Germany, Bloomberg reported, citing Jenny Gu, a Shanghai-based analyst at research firm LMC Automotive. Sales in China will probably increase 16% next year, outpacing Germany's 4.4% growth, Gu said.
Air Passenger Traffic Up 14% in Nov
China's air passenger traffic totaled 23.71 million people and air cargo traffic totaled 485,900 tons in November, up 13.8% and down 3.1% year on year respectively, according to the Civil Aviation Administration of China. Between January and November, air passenger traffic totaled 269.19 million people and air cargo traffic totaled 5.03 million tons, up 9.1% and down 1.7% respectively from the same period a year ago.
Wen Urges Lending Support for Manufacturing
Premier Wen Jiabao called on banks to support China's manufacturing sector during his visit to some industrial parks in Jiangsu province, signaling the government's concern over slowing economic expansion caused by contracting manufacturing.
¥3.4t to Be Funneled into Environmental Protection
Around ¥3.4 trillion are expected to be invested in China's environmental protection industry between 2011 and 2015, according to a five-year plan released by the State Council.
Online Video Viewers to Total 445m in 2012
The number of online video viewers in China is expected to amount to 394 million this year and 445 million next year, according to a report on the Chinese online audio and video industry.
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