Lending to Property Developers Decreases in Q1
China's bank loans made to property developers totaled ¥242.7 billion in Q1 2012, ¥281.2 billion less from Q1 2011, the central bank said. Mortgage loans totaled ¥157.4 billion during the quarter, ¥175.7 billion less from Q1 2011.
Food Industry Output to Top ¥12t by 2015
Output from China's food industry is expected to grow 15% annually to ¥12 trillion by 2015, the National Development and Reform Commission predicted.
300m SNS Users in China
China had over 300 million users of social networking sites as of the end of 2011, the most in the world, according to a McKinsey report which surveyed 5,700 Chinese netizens. The Chinese were also the most active users as 91% of respondents said they had used social networking sites over the past six months, well above 70% in South Korea, 67% in the US and 30% in Japan.
$1 = ¥6.28