China business news digest
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China delivery business growing strongly
China's parcel delivery business has experienced 50 per cent compound growth for the past 45 months on the back of the country's fast expanding e-commerce boom, according to new academic research.
During this year's ‘Singles Day', the parcel delivery business processed 540 million packages, up 56 per cent from the same period last year.
Alibaba, the Chinese e-commerce giant, has 80 per cent of the country's booming e-commerce market according to new research from Beijing Commercial University.
(Caixin)
Ministry of Finance announces 30 PPP projects
The Ministry of Finance has announced 30 new Public Private Partnership (PPP) projects worth RMB 180bn. The announcement of selected model projects is part of Beijing's effort to attract more private sector funding.
These new projects include waste treatment plants, renewable energy, health and other public utilities projects.
(Caijing)
Chinese securities regulator warns of market exuberance
Chinese securities regulator has warned about market exuberance after days of soaring performance on the country's stock exchanges.
Some media outlets have been encouraging investors to sell off their properties and use the money to invest in shares.
(Caijing)
Steel producing province takes a hit
Beijing has ordered Hebei, the country's largest steel producing province, to restructure its economy in order to fight the country's worsening smog problem.
Hebei is home to 7 out of 10 worst polluting cities in China. Recently, the central government forced the province to close down many factories to ensure blue skies during the APEC Summit.
The province closed down 12 million tonnes of iron, 9.8 million tonnes of crude steel and 28 million tonnes of cement production capacity in the past eight months.
(Caijing)
Chinese iron ore mines face closure as prices drop
90 per cent of iron ore mines in Shandong province have production costs higher than the current market price for iron ore, sparking fear of wides-spread closure as iron ore prices hover around $70.
The price of domestically produced iron ore has dropped 26 per cent since November from RMB 914 a tonne to RMB 669 per tonne.
Chinese iron ore miners have complained about the industry's heavy tax burden as the industry faces further downward pressure.
70% of listed developers won't meet sales targets
17 listed property developers won't meet their sales targets according to research from Centaline Group, a Hong Kong based real estate company.
Though the property sector has experienced a modest recovery on the back of Beijing's easing policy, 70 per cent of listed property developers would have trouble meeting their sales targets.
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