Tech giants

CHINESE tech giants will only get stronger, said Zhang Jun, dean of the School of Economics at Fudan University, in a commentary published by the Singapore-based English language news network CNA recently.

Zhang said that over the last 20 years, a number of thriving technology companies have emerged in China, and a huge internal market of 1.4 billion people are connected by well-developed transportation systems, advanced communication networks, and efficient supply chains. The influence of Chinese internet companies is large and still expanding in the European, American, and South Asian markets, Zhang said.

Housing measures

HARBIN has become one of the first cities in China to announce measures to support property developers and their projects.

Developers should get back part of their presale funds held in government escrow accounts as quickly as possible to relieve pressure on their cash flows, the government of Harbin, the capital of Heilongjiang Province, said Sunday in a statement. Harbin also said it will give subsidies of up to 100,000 yuan (US$15,500) to talented residents with skills and qualifications looking to buy homes for the first time.

Pork reserves

THE commerce ministry said yesterday it bought 30,000 tons of pork for State reserves Sunday, the latest in a series of purchases.

China is buying up pork to support prices of the country’s staple meat after they plunged this year.

Coal imports

A RAILWAY port on the China-Russia border has boosted coal imports to meet the rising demand from power producers and heating suppliers in North China.

The railway port of Suifenhe in Heilongjiang Province saw 36,600 tons of coal imported from Russia during the National Day holiday.