China World's No 2 Aviation Fuel Consumer
China sold more than 17 million tons of aviation fuel domestically in 2011, becoming the world's second largest consumer, Li Jiaxiang, director of the Civil Aviation Administration of China, said at an international conference on aviation fuels. Aviation fuel costs, which shot up 40% in the country, dragged down Chinese airlines' profits by 26% to ¥17.44 billion last year, Li added.
China to Subsidize Cleaner Power Generation
China will subsidize power producers that use renewable energy to generate electricity, according to a joint announcement by the Ministry of Finance, the National Development and Reform Commission and the National Energy Administration.
Software Service Revenue to Top ¥4t by 2015
Revenue from China's software and information technology services will grow 24.5% annually to ¥4 trillion by 2015, the Ministry of Industry and Information Technology said. Software services are expected to account for 25% of the IT industry, export $60 billion worth of services and employ six million people by 2015.
$1 = ¥6.3
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