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Housing Fund to Invest in Bond Market
The accumulated housing fund, which offers low mortgage rates to home buyers in China, will be allowed to invest in the nation's bond market, the China Securities Journal reported. Details will be published in a year. China's accumulated housing fund pooled ¥2.1 trillion as of the end of last year.
Telecom Welcomes Private Investment
The Chinese government will draft rules to encourage the private sector to invest in the telecommunications market, the Ministry of Industry and Information Technology said. The move came after the banking, securities and insurance regulators announced similar measures to attract private capital last week.
Power Generators Stuck in Losses Amid Costlier Coal
China's five state-run power generators reported a combined ¥15.12 billion in losses with a combined 85.7% liabilities-to-assets ratio in 2011, the State Electricity Regulatory Commission said in its latest annual report, citing rising coal prices. Higher coal prices also resulted in the first annual decline in investment in coal-fired capacity last year. The commission predicted China's power consumption would rise 9.5% to over 5.1 trillion kW hours this year.
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@2011 China Economy @ The China Perspective.
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