Central bank vows healthy property market

CHINA will maintain the healthy development of its real estate market and protect the rights and interests of consumers, said the central bank.

The People’s Bank of China will work to safeguard the healthy development of the real estate market and protect homeowners’ lawful rights, the bank’s monetary policy committee said at its quarterly meeting Friday, according to a statement released Monday. The government has been steadily tightening restrictions in the property market to rein in financial risks, which have curbed investment and economic growth.

5G mobile connections to top 830 million

THE number of 5G mobile connections in China will likely reach more than 830 million by the end of 2025, the highest in the world, said John Hoffman, CEO of GSMA Ltd., an international mobile operator association.

“5G will account for over one-fifth of total mobile connections by the end of 2025, equivalent to almost 2 billion connections,” said Hoffman. “5G commercialization is well underway, as 5G networks and services reach more consumers and enterprises around the world,” he said, adding that China has made 5G deployment a priority and supported the industry’s aggressive network rollout efforts.

China’s share of passenger fleet expected to rise

CHINESE planemaker Commercial Aircraft Corp. of China (COMAC) said yesterday it expected China’s share of the global passenger aircraft fleet would rise to 22 percent by 2040 from 20 percent in 2020.

Its latest market forecast said 41,429 passenger jets worth US$6.2 trillion are expected to be delivered globally over the next 20 years. Passenger demand is expected to rise by an average of 3.9 percent a year globally and 5.7 percent a year in China over the next 20 years, the planemaker added.

World Bank lifts China growth forecast

THE World Bank lifted its China growth forecast, while slashing its outlook for the rest of the East Asia and Pacific region as the spreading Delta variant hammers manufacturing and tourism, and low vaccination rates hamper the recovery.

The lender now expects China to grow 8.5 percent this year compared with the 8.1 percent it forecast in April, though it cautioned the recovery is losing momentum.