China will cut its energy export by half in the next decade as the nation's demand for coal is to increase by 2 billion tons over the period, said a senior NDRC official Tuesday.
A central bank survey has found 61.4% of respondents expected higher inflation for Q1 2011 and 75.5% of respondents said they could not afford home prices and 16.2% said they would buy a home in Q1 2011.
China's consumer price index will be as high as 5.5% in 2011, predicted Stephen Green, Standard Chartered China Research chief. The indicator hit a 28-month high of 5.1% in November.
China's FDI rose 38.17% year on year to $9.7 billion in November and rose 17.73% to $91.71 billion in January-November, according to the commerce ministry.
One-third of China's 42 billion m2 of properties need insulation and energy saving upgrades. The market is estimated to be worth ¥2.8 trillion, and 2 billion m2 of new buildings need insulation and energy saving equipment worth ¥200 billion to ¥300 billion per year, said Li Yingquan, secretary of the China Concrete & Cement Products Association.
China's domestic air passenger traffic will account for 8.4% of the world's total air passenger traffic 20 years from now, second just to that of US whose share will be 11.3%, predicted Airbus.
China's fixed-asset investment in its railway sector grew 35.6% year on year to ¥687.79 billion in the first 11 months, according to the railway ministry. During the same period, railroad cargo traffic was up 11.4% to 3.34 billion tons; railroad passenger traffic was up 9.7% to 1.55 billion passengers.
McDonald's said Wednesday it was planning to increase its investment in China by 40% and open 175-200 new stores in the country in 2011. Currently it is running over 1,100 stores compared to over 3,000 by KFC.
SAIC Motor Co (SHA: 600104), China's largest automaker by sales, said it has raised ¥10 billion from a private placement. ¥5.5 billion will be invested in a self-branded car project; ¥1.2 billion will be invested in a commercial vehicle project; ¥2.7 billion will be invested in a new R&D facility; the remainder will be invested in an auto parts project, according to the company. SAIC Motor also revealed the projects were likely to face a ¥686 million funding shortage and did not elaborate on how it would finance the shortfall.
Air China Ltd (SHA: 601111, HKG: 0753) flew 3.64 million passengers in November, down 13.5% month on month and up 8.3% year on year.
Bank of Ningbo Co (SHE: 002142), said it will open a branch in Beijing that will target small and midsized businesses.
$1 = ¥6.66