Pyramid crackdown
(China Daily)
Updated: 2006-09-25 16:23
Aero-leasing plans
Authorities are making efforts to create
favourable conditions for the development of the aero-leasing industry in
China.
The new draft of the Financial Leasing Law is ready for a second
round of consultation, said Guo Shuyan, vice-chairman of the Financial &
Economic Committee under the National People's Congress.
The draft
follows international guidelines and "promotes banks investing in the industry,"
says Guo, leader of the work group on the law, at the China Aero-leasing Summit
2006 in Beijing last week.
Huge harvest
China is banking on a
grain harvest of 490 billion kilograms this year, 6 billion kilograms more than
last year, according to a forecast from the China Information Centre of Grain
and Oil.
"China's 2006 grain output is likely to sustain upward momentum
for the third year in a row," says Shang Qiangmin, director of the
centre.
Shang says that natural disasters, particularly a two-month
summer drought afflicting grain production areas, had resulted in a loss of 40
billion kilograms of grain so far this year.
He says that China could
still expect an abundant harvest. China produces grain in summer a third
of annual production and autumn. Most of North China expects a good
harvest this autumn to make up for drought damage.
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Ripe time for Shanghai Port 