Home prices

    THE average home price in 100 monitored Chinese cities dropped both on a month-on-month basis and year-on-year basis in February, according to a leading property research institute.

    The average home price of the 100 cities came in at 10,539 yuan (US$1,714) per square meter, down 0.24 percent month on month and 3.84 percent year on year, showed a report released by the China Index Academy on Saturday. Of the 100 monitored cities, 39 saw their property price rise month on month in February, while 61 cities witnessed declines. The prices will continue to see downward pressure due to high inventories, said the report.

    Trade restrictions

    CHINA has imposed temporary trade restrictions on Canadian beef and beef products in the wake of Canada’s discovery of mad cow disease earlier last month, Canada said Friday.

    China joins the list of countries and regions that have imposed trade restrictions since Canada confirmed the case of bovine spongiform encephalopathy (BSE) Feb. 11, which includes Taiwan, Peru and Belarus.

    Cargo train

    THE first regular cargo train service linking northeastern China’s Heilongjiang Province to central Russia left on its maiden voyage Saturday.

    The cargo train, which was carrying oil exploration equipment, pulled out of Xiangfang Railway Station in Harbin at 10:50 a.m. It is expected to arrive in Biklyan, Russia, in 10 days. Using the 6,578 km route costs 75 percent less than air transportation, said Li Tie from the Harbin Railway Bureau. So far a number of mainland cities — including Chongqing and Chengdu in southwestern China; Wuhan, Zhengzhou and Changsha in Central China; and Shenyang in northeastern China — have rail freight services to Europe.