IN BRIEF (Page 10)

Shenzhen's GDP up

Shenzhen's economy grew steadily in the first half of 2008, although international and domestic markets are encountering challenges, according to the municipal statistics bureau.

Shenzhen's GDP reached 353.288 billion yuan in the first half of 2008, an increase of 10.5 percent compared with the same period last year.

Statistics show that retail sales of consumer goods reached 108 billion yuan, increasing by 18.2 percent year-on-year.

The gross value of foreign trade increased by 9 percent, reaching $139.175 billion, according to Shenzhen customs.

Shenzhen's consumer price index (CPI) in the first six months this year increased by 7.3 percent compared with the same period of last year mainly, as a result of the increasing cost of food, especially meat and vegetable oil, which increased by 38.2 percent and 39.1 percent respectively.

Record wheat harvest

Henan province in central China harvested a record 30.6 billion kg of wheat this summer, a rise of 660 million kg, or 2.2 percent, over last year, said the survey team of the National Bureau of Statistics in the province.

Dubbed as "barn of China", Henan produces one quarter of the country's wheat.

Wei Zhongsheng, chief economist with Henan provincial bureau of agriculture, cited a number of factors for the record harvest.

For example, this year, an extra fund of 1.07 billion yuan was spent in offering farmers subsidies to use improved varieties of wheat and other crops, and to purchasing farm\\ equipment.

Zhu Mengzhou, director of Henan provincial Bureau of Agriculture, said the harvest laid a good foundation for meeting the province's grain production target of 50 billion kg this year and can help stabilize grain prices.

Sewage treatment loan

Jiangxi province will receive a 5.3 billion yuan loan from eight banks and financial institutions, including the China Development Bank (CDB) and Agricultural Development Bank of China, to begin building new sewage treatment facilities.

Jiangxi is setting up a wastewater treatment system in 80 counties and towns within two years.

Chen Yuan, the president of CDB says that the bank will increase its cooperation with Jiangxi province in infrastructure and environmental protection for a "green and ecological province".

Hunan mine consolidation

Hunan province has consolidated its 40 major mining areas including coal and phosphorus in the first six months of this year. As such, the number of local mines has decreased to 6,019 from 7,312 in 2005.

Hunan will complete the consolidation of 116 mining areas covering 11 minerals including tungsten, lead, zinc and graphite by the end of this year. And the number of local mines will be reduced to 5,500.

The local government also invited strategic investors to join in the consolidation. Hunan Nonferrous Metals Holding Group has acquired 14 mines in Chenzhou city and West Mining has acquired 19 tin mines in Linwu county.

Firms lured to Guangdong

Authorities in Guangdong province will spend 40 million yuan to assist small and medium-sized enterprises (SMEs) in Hong Kong in relocating to the province.

Wang Yang, Party chief of Guangdong province, said the provincial government is encouraging firms to relocate to eastern, western and northern regions of Guangdong in return for power, water and transport subsidies.

"Small and medium enterprises from Hong Kong have a brilliant future in Guangdong," said Wang.

Burgeoning input and rental costs have forced many SMEs to exit the market. In the first five months of the year, 35,000 firms cancelled their registration in the province, up 35.7% year-on-year. Figures from Shenzhen's statistics bureau show 599 firms withdrew from the city alone, most of which were electronics, machinery, plastics, garment and furniture manufacturers.

(China Daily 08/04/2008 page10)