IN BRIEF (Page 18)

LeTV Sports gets EPL rights for Hong Kong

LeTV Sports, the sports arm of China's biggest online video company LeTV Holdings Co Ltd, has snapped up the Hong Kong rights to the English Premier League soccer games for the next three years starting 2016, as part of its efforts to bring in new technology and securing a number of exclusive television properties.

Though LeTV did not disclose the exact terms of the agreement at a news conference in Hong Kong on Sept 22, industry sources said it could be as high as $400 million-plus for the three years, more than double what the current rights holder PCCW's Now TV paid for a similar three-year deal.

Investment fair unites nations

With the backing of the National Development and Reform Commission, the 7th China Overseas Investment Fair will be held in Beijing from Oct 22 to 23.

About 80 countries have confirmed they will take part, organizers say, of which 10 will hold promotional seminars and outline their investment and environmental and policies.

More than 1,000 major state-owned enterprises and Chinese private firms use the fair, held annually, as a channel for networking with foreign investment agencies.

Benchmark corn purchase prices cut

China has reduced the price it pays for corn for its state reserves amid surging output in the world's second-biggest producer. The government has set the 2015-16 benchmark corn purchase price at 2,000 yuan ($314) a metric ton, the State Administration of Grain said in a statement on Sept 18. That is about 10 percent lower than a year earlier, according to the China National Grain & Oils Information Center.

Hailing apps may have to register vehicles

The government is considering regulations that would force ride-booking apps such as Uber and Didi Kuaidi to use commercially registered cars and drivers, and would allow city governments to limit permits for those services, according to sources familiar with the plan.

The proposed rules may be released as early as this month for public consultation, said the sources, who asked not to be identified because the proceedings are private. The transportation ministry did not immediately respond to a phone call and faxed request for comment. Huang Xue, a spokeswoman for Uber, said the company does not comment on speculation.

Think tank predicts 6.9% GDP expansion

The nation's 2015 GDP growth is expected to be 6.9 percent, according to a report released by a state-run think tank on Sept 21.

Economic growth is likely to slow as institutional barriers such as a rigid household registration system and lack of human capital drag down GDP.

China is starting to rely more on infrastructure development and consumption from urbanization than manufacturing-based industrialization, according to a bluebook on China's GDP growth released by the Chinese Academy of Social Sciences.

(China Daily European Weekly 09/25/2015 page18)