China Business Briefs 10/11/13

Oh yeah, and get your wallets ready as tomorrow is China’s e-commerce festival! Last year there was over $3 billion worth of revenue on e-commerce on the same day.

 

Premier Li Keqiang has called for greater efforts to develop the economy and enhance social welfare just days ahead of a much-awaited key policy meeting.

The Chinese economy has showed signs of stabilization and strength thanks to measures to accommodate the needs of both the present situation and long-term development, Li said on Tuesday while presiding over a meeting in northeast China’s Heilongjiang Province.

These measures include, among others, streamling administration and delegating powers to lower levels, urban renovation, stabilizing consumer prices and job creation, he said.

The municipal government of Shanghai announced on Friday new measures designed to cool down the local housing market. They include raising the required down payment on a property if it is a buyer’s second home.

“So far this year, home prices have been fluctuating greatly, and with transaction volumes ascending recently, home prices are under greater upward pressure,” said a notice posted on the official website of the city’s housing regulator explaining the background for the rollout of seven-point new measures.

When the Communist Party power elite want to hold a meeting in a secure, private venue, they don’t go to the Great Hall of the People. Instead they repair to a hotel in western Beijing.

The Jingxi Hotel doesn’t have a website. It’s notoriously difficult to get into. And, if tradition holds, it’s where the party’s Central Committee is gathering for a crucial policy conclave that began Saturday and is taking place out of public view. In keeping with the secrecy that typically envelopes these events, the venue hasn’t been officially announced.

China is gearing up for a major event: the third plenary session of the 18th Central Committee of the Communist party. Expectations are running high that the meeting will initiate a new wave of reform. This is the first opportunity for President Xi Jinping to articulate his economic vision for the country after a year as the leader of the Communist party.

Posted from Diigo.

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