Service imports

THE Ministry of Commerce expects the country’s service imports to reach US$2.5 trillion over the next five years, Shanghai Securities News reported, citing a report from the ministry.

The ministry also said China will relax foreign ownership limits on value-added telecommunications services, business services, and transportation in an orderly way, said the report.

Property sales

CHINA Vanke Co., one of the country’s major property developers, saw its sales increase in October.

The developer said in a statement that its contracted property sales totaled 52.31 billion yuan (US$7.89 billion) last month, up 20.6 percent year on year. In October, the company achieved a contracted sales area of 3.66 million square meters, up 34.9 percent year on year.

Smartphone market

CHINA’S smartphone maker Xiaomi was the top vendor in India’s smartphone market during the July-September quarter, reporting a modest growth of 7 percent year on year.

India’s smartphone market witnessed growth in the third quarter, as it saw nearly 54.3 million shipments during this period, showed the data released by the International Data Corporation.