Aviation Profits May Be Partly Submitted
The Ministry of Finance will start negotiations in December with regulators of some industries, including the Civil Aviation Administration of China, to ask them to hand over some profits they make every year.
Tmall's Service Fee Hike to Be Probed
The Ministry of Commerce will launch an anti-monopoly investigation into Tmall.com's recent sharp increase in service fees. Tmall, China's top B2C site, said last month that it would raise service fees from ¥6,000 to between ¥30,000 and ¥60,000 next year, triggering an outcry from small businesses.
Software Revenue to Top ¥1.6t in 2011
Revenue from China's software industry is expected to exceed ¥1.6 trillion this year and hit ¥4 trillion by 2015, the China Software Association director Chen Chong predicted at the Fifth World Congress for Software Quality in Shanghai.
Online Video Ad Revenue Up 139% in Q3
Revenue from online video ads in China jumped 139% year on year and 48.1% quarter on quarter to ¥1.48 billion in Q3 2011, according to Analysys International.
Bank Lending to Total ¥7.5t in 2011
China's lending will likely add up to ¥7.5 trillion this year, the China Securities Journal reported, citing an unnamed banking industry source. New loans totaled ¥5.69 trillion in the first nine months.
Railways Ministry Gets ¥200b Funding
The Ministry of Railways has been given ¥200 billion in government funds and bank loans to proceed with its projects nationwide, Xinhua News Agency reported. China suspended construction of over 10,000km of railroad after a deadly train crash in July.
Guangdong Industrial Profits Total ¥304b Through September
Guangdong's 37,400 industrial firms, each of which posts at least ¥5 million in revenues annually, posted a combined ¥304.26 billion in gross profits in the first nine months, up 3% from the same period a year ago, according to the Guangdong provincial statistics bureau. Similar industrial firms in Zhejiang posted a combined ¥78.19 billion in gross profits in Q3 2011, up 4.9% year on year, according to the Zhejiang provincial statistics bureau.
$1 = ¥6.35