News » China » Air route to link central China's Wuhan, Kuala Lumpur

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• Air route to link central China's Wuhan, Kuala Lumpur
• How will stricter control affect China's property market?
• CPPCC spokesman addresses press ahead of conference
• China's 8% growth likely in next 2 decades: economist
• 18 years 'too long' to wait for clean air
• Mainland expresses support for HK chief executive
• Japan warned not to cause friction with China
• Top political advisory body expresses support for HK chief executive
• Japan warned not to cause friction with China
• Yu Zhengsheng to preside over CPPCC presidium meetings
• Reduced traffic controls for "two sessions"
• Yu Zhengsheng to preside over CPPCC presidium meetings
• J-15 fighter able to attack over 1,000 km
• Hurdler Liu Xiang missing political session again
• Yu Zhengsheng to preside over CPPCC presidium meetings
• Court green-lights Sany's lawsuit against Obama
• CPPCC holds press conference
• CPPCC press conference <font color="red"><strong>[Live]</strong></font>
• Notice on the press conference of the 1st NPC Session
• Six of nine Hong Kong balloon victims identified

Air route to link central China's Wuhan, Kuala Lumpur Posted: 02 Mar 2013 09:47 AM PST ERROR: The requested URL could not be retrieved While trying to retrieve the URL: http://www.chinadaily.com.cn/china/2013-03/03/content_16270054.htm The following error was encountered: The system returned: (104) Connection reset by peer An error condition occurred while reading data from the network. Please retry your request. Your cache administrator is support@chinacache.com.

How will stricter control affect China's property market? Posted: 02 Mar 2013 09:47 AM PST BEIJING - China issued stricter measures Friday to cool the heated property sector before the annual parliament session, amid public hope of pulling down soaring home prices. The central government said in a notice that homeowners who sell their homes will be levied an income tax as high as 20 percent of the profit they make on the transaction. Prior to the new rules, income tax was 1 percent to 2 percent of the sale price. The notice also said that local branches of the central bank in cities with soaring home prices can increase the down payment and mortgage loan interest rate for home buyers purchasing a second unit. Zhang Xu, a market researcher with HomeLink, a leading property broker firm, said the policies will beef up tax and loan measures and make potential buyers to reconsider their purchase decisions. For example, if a home worth of 1 million yuan (159,236 U.S. dollars) five years ago in Beijing is now sold at a price of 3 million yuan, the seller will be levied 400,000 yuan as income tax. The previous 1-percent policy just requires 30,000 yuan of income tax. Zhang said the tax hike will increase the cost of second-hand home transactions and hit speculative purchases in the property market. The heated second-hand transactions recently seen in several major cities will cool down, he predicted. Chen Guoqiang, vice president of the China Real Estate Industry Association, said tax hike will force many buyers to purchase first-hand homes. Chen said if first-hand home supplies will not increase, the growing demands will finally push up home prices. Along with a tighter grip on second-hand homes, China has already been  working to increase home supplies. In the notice, the central government asked local governments to increase land supplies for housing and secure affordable housing construction. Beside tax hike, a stricter control on mortgage loan is also expected to smother speculations. Business insiders guessed that the down payment rate for a second unit may be increased to 70 percent in some major cities and loan interest rate may reach 1.3 times of the benchmark rate. But the notice did not give specific requirements. Zong Liang, a senior researcher with the Bank of China, said increase of down payment and loan interest rates can curb speculative purchases, but authorities must work to spare those who buy a second unit just to improve living conditions.

CPPCC spokesman addresses press ahead of conference Posted: 02 Mar 2013 09:47 AM PST Lyu Xinhua, spokesman for the First Session of the 12th National Committee of the Chinese People's Political Consultative Conference (CPPCC), answered questions from the press on March 2. Lyu also briefed journalists on the agenda of the conference and talked about the National Committee's recent accomplishments at the meetings' first press conference at the Great Hall of the People in Beijing. This year's conference is scheduled to open at 3 pm on March 3. It will last nine days and end on March 12. As of Saturday, Lyu said, 2,153 out of the 2,237 committee members had registered at the secretariat of the session and submitted more than 800 proposals and 300 speech transcripts. Videographer: Lin Hanqing & Yu Chenkang Video: Yu Chenkang Voiceover: Chris Clark Producer: Flora Yue

China's 8% growth likely in next 2 decades: economist Posted: 02 Mar 2013 09:47 AM PST BEIJING - Former World Bank chief economist Justin Yifu Lin reaffirmed his assertion that China can maintain an 8-percent annual growth for another 20 years. Lin said he was not talking big, as China's economy has great potentials in capitalizing on the late-mover advantages. "Should such advantages as a late mover be fully capitalized on, China might continue to maintain an 8-percent annual growth for 20 more years," Lin, a professor with Peking University, said in a speech on China's economic outlook and challenges on Friday. Lin said a sound government financial status, a large number of programs with high return on investment, high civilian bank deposits and foreign exchange reserves are beneficial to the economic growth in short terms. He however pointed out that China is still facing multiple challenges such as urban-rural gap, income gap, backwardness in social development, resource-environment conflicts, unbalanced foreign trade, overheated investment, education, technological and creative capability, corruption, as well as legal and political mechanisms. "Whether China could maintain continuous economic growth relies on if these challenges could be addressed," Lin said.

18 years 'too long' to wait for clean air Posted: 02 Mar 2013 09:47 AM PST BEIJING - A Chinese official on Saturday urged speeded efforts to improve air quality in cities, saying the people cannot wait too long for the air to be cleaned. "Eighteen years is too long to wait," said Lyu Xinhua when asked to comment the authority's timetable for major Chinese cities to make air quality conform to the national standard by 2030. "We wish to shorten the period." Ministry of Environmental Protection set timetables in January for cities experiencing different degrees of air pollution. Cities where average air pollution levels are 15 percent higher than the national standard or less should work to bring the levels to standard by 2015. Cities suffering heavy air pollution that is 30 percent above the national standard or higher should try to meet standards by 2030, and cities between the previously mentioned categories are expected to meet the standards by 2020. Lyu, spokesman for the annual session of the National Committee of the Chinese People's Political Consultative Conference, said China's energy consumption is huge as the country is in the process of rapid development of industrialization and urbanization. China's energy structure is not reasonable and the awareness of some companies to protect environment is still poor, Lyu said at a press conference. He acknowledged that it is difficult for some cities, including Beijing, to meet the national standard in terms of air quality in short term. Lyu said the government should invest more and enhance legislation on the environmental protection. The public's participation and supervision is also of great significance, he said. Prolonged smog shrouded many parts of the country in January. Beijing experienced only five days with clear sky in the month, according to the Beijing municipal meteorological bureau.

Mainland expresses support for HK chief executive Posted: 02 Mar 2013 09:47 AM PST BEIJING - China's central authorities have expressed support for Chief Executive of the Hong Kong Special Administrative Region (SAR) CY Leung to govern in line with laws, said a spokesman with the country's top political advisory body Saturday. The central authorities expressed support to Leung when he was in Beijing to brief officials on Hong Kong's latest economic, social and political development last December, said Lyu Xinhua, spokesman for the first session of the 12th National Committee of the Chinese People's Political Consultative Conference (CPPCC), at a press conference here. "I know Mr CY Leung quite well. He is responsible, committed and capable. I believe, under his leadership, Hong Kong will have a better future," Lyu said. When commenting on the the universal suffrage of HKSAR chief executive and the Legislative Council, Lyu said detailed arrangements should be carefully and fully discussed by Hong Kong government and society to reach consensus. The National People's Congress Standing Committee, China's top legislature, has set a timetable that allowed universal suffrage for the HKSAR chief executive no earlier than 2017 and that for all the HKSAR legislators afterwards.

Japan warned not to cause friction with China Posted: 02 Mar 2013 06:59 AM PST Japan must be responsible for the consequences should any friction take place due to its disturbance of China's normal law enforcement activities around the Diaoyu Islands, a Chinese official said Saturday.

Top political advisory body expresses support for HK chief executive Posted: 02 Mar 2013 06:32 AM PST China's central authorities have expressed support for Chief Executive of the Hong Kong Special Administrative Region (SAR) CY Leung to govern in line with laws, said a spokesman with the country's top political advisory body Saturday.

Japan warned not to cause friction with China Posted: 02 Mar 2013 02:53 AM PST Japan must be responsible for the consequences should any friction take place due to its disturbance of China's normal law enforcement activities around the Diaoyu Islands, a Chinese official said Saturday.

Yu Zhengsheng to preside over CPPCC presidium meetings Posted: 02 Mar 2013 02:22 AM PST The preparatory meeting of the first session of the 12th National Committee of the Chinese People's Political Consultative Conference (CPPCC) approved the presidium of the session. Yu Zhengsheng is to preside over the presidium meetings.

Reduced traffic controls for "two sessions" Posted: 02 Mar 2013 02:06 AM PST To keep the upcoming "two sessions" frugal and minimize disturbance for local residents, Beijing police have canceled the traditional practice of escorting session deputies and members with police cars, a senior Beijing traffic control official has said.

Yu Zhengsheng to preside over CPPCC presidium meetings Posted: 02 Mar 2013 03:34 AM PST The preparatory meeting of the first session of the 12th National Committee of the Chinese People's Political Consultative Conference (CPPCC) approved the presidium of the session Saturday. Yu Zhengsheng is to preside over the presidium meetings. • CPC approves state leadership candidates • New leadership maintains frugality campaign

J-15 fighter able to attack over 1,000 km Posted: 02 Mar 2013 03:34 AM PST The J-15 fighter jet, likely to be commissioned to China's first aircraft carrier, is able to cover an area with a radius of over 1,000 km on attack missions, a chief designer said Saturday.

Hurdler Liu Xiang missing political session again Posted: 02 Mar 2013 12:56 AM PST Hurdler Liu Xiang will be absent again from the annual session of China's top political advisory body this year, arousing dissatisfaction among the online population.

Yu Zhengsheng to preside over CPPCC presidium meetings Posted: 02 Mar 2013 02:32 AM PST The preparatory meeting of the first session of the 12th National Committee of the Chinese People's Political Consultative Conference (CPPCC) approved the presidium of the session. Yu Zhengsheng is to preside over the presidium meetings.

Court green-lights Sany's lawsuit against Obama Posted: 02 Mar 2013 02:32 AM PST China's Sany Group Co., Ltd. said Saturday that its core request in the lawsuit against U.S. President Barack Obama has been accepted by the U.S. District Court in Washington. • US paranoid of Chinese investment

CPPCC holds press conference Posted: 02 Mar 2013 02:32 AM PST The press conference of the first session of the 12th Chinese People's Political Consultative Conference (CPPCC) is held Saturday at the Great Hall of the People in Beijing. • In pictures | CPPCC | CPPCC members • Full coverage: NPC & CPPCC Sessions 2013

CPPCC press conference <font color="red"><strong>[Live]</strong></font> Posted: 02 Mar 2013 01:06 AM PST The press conference of the first session of the 12th Chinese People's Political Consultative Conference (CPPCC) is held Saturday at the Great Hall of the People in Beijing. • Backgrounder: CPPCC | CPPCC members • Full coverage: NPC & CPPCC Sessions 2013

Notice on the press conference of the 1st NPC Session Posted: 01 Mar 2013 10:07 PM PST A press conference of the First Session of the Twelfth National People's Congress will be held at 11:00am on March 4th, 2013 (Sunday) at the Press Conference Hall, 1st Floor of the Great Hall of the People (GHP).

Six of nine Hong Kong balloon victims identified Posted: 01 Mar 2013 09:18 PM PST Six of nine Hong Kong victims who died in the Luxor balloon explosion have been identified by their familiers after they arrived at Cairo. And the investigation on the accident is underway.

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