Public housing target to be met

THE government has this year invested 820 billion yuan (US$129 billion) in 6.5-million-public-home building starts as of the end of August, the Ministry of Housing and Urban-Rural Development said, putting it on track to achieve an ambitious construction target.

China aims to start building 7 million such homes and complete construction of 5 million in 2012, compared with actual starts of 10.4 million units and completion of 4.3 million in 2011.

Auto sales up 8.3 percent

VEHICLE sales in China rose 8.3 percent in August from a year earlier, maintaining a steady pace though far from the blistering speed of recent years, as a recent fuel price rise and a slowing economy discouraged consumers from buying.

Sales jumped 82 percent in August 2009 when the government’s massive investment program and stimulus packages spurred demand for cars and trucks.

BAIC aims to list car unit in HK

STATE automaker BAIC Group aims to list its passenger car subsidiary in Hong Kong next year, raising around 10 billion yuan, its chairman said yesterday.

Proceeds from the initial public offering will be used to shore up its own passenger car business, Xu Heyi said. BAIC operates car manufactory ventures with Daimler AG and Hyundai Motor.

Eastern Air set to get 2b yuan funding

CHINA Eastern Airlines Corp. expects to raise more than 2 billion yuan selling shares to its State-owned parent, according to two people familiar with the situation.

Satyam to triple China headcount

INDIAN outsourcing company Satyam Computer Services Ltd. yesterday said that it will triple its workforce in China to 1,500 people by 2015 as part of efforts to better serve its global clients which have operations in the country.

Satyam and majority shareholder Tech Mahindra Ltd. together have software facilities in Shanghai and Nanjing, the Indian software company said.