China Financial Daily

June 28, 2009

Towering suspects

Filed under: Financial News — Tags: — lily @ 10:37 pm -0700

Towering suspects
The collapse of a 13-storeyed apartment block under construction on Lianhua Road South in Shanghai’s Minhang District on Saturday morning has come as a great shock. This mishap in China’s largest metropolis – which prides itself on quality in all that it delivers – comes less than six weeks after the collapse of a viaduct in Zhuzhou in Hunan province killing nine people.

It is extremely tragic that the 28-year-old Mr. Xiao died in this mishap, which should have been entirely avoidable. While our heart goes out to his near and dear ones, it is a small mercy that the building was still under construction and not occupied at all. Otherwise the toll would have been heavier. Equally merciful is that the building came crashing down at 5:30 in the morning rather than during the busier hours of the day, when many construction workers would have been inside or around the structure.

Regardless of the death toll, public anger can only increase in the wake of such shoddy construction projects being exposed for the risks they involve to potential owners and occupants, workers and passers-by.

It is astonishing that a property developer with an expired license was allowed to construct such a residential project. The authorities need to answer why the collapse of the nearby river embankment a day ago did not draw their attention to the risks ahead; and, why the foundation for a 13-storey building was on weak ground near a waterway.

A thorough investigation, as ordered by Shanghai leaders over the weekend, should be able to tell whether this is another case of corruption involving both officials and businessmen. It is no secret that the construction industry is one of the most corrupt. It has brought a fortune to many rent-seeking public servants, and it has also brought down many high-level officials.

Like tainted food, complaints about poor quality apartments are frequently in the headlines these days. Some local governments, which depend on the property market for their revenue, have clearly not followed due procedure in approving and supervising construction projects. Given this situation, the building collapse in Shanghai may not be that accidental.

People are bound to ask how safe are the towers they live in, and for how long? People may wonder whether many apartment blocks are built to last for the 70 years contracted, or they would not stand firm beyond 30 to 40 years as insiders and experts insist.

It is certainly a legitimate question for Shanghai where tens of thousands of workers are racing against time on the World Expo sites, where a massive subway system is being built, passing numerous residential buildings and historic structures.

It is ironic that such an accident happened in Shanghai – one of the most advanced and international Chinese cities. The sheer fact that such a collapse occurred in the country’s biggest metropolis should serve as a warning to all developers and the authorities to ensure that construction projects do not cut corners and endanger people’s lives.

Share/Bookmark

June 25, 2009

Under the Ministry of Public Works a letter motorcycle the second car to the countryside and products business directory

Filed under: Financial News — Tags: — lily @ 8:30 am -0700

Under the Ministry of Public Works a letter motorcycle the second car to the countryside and products business directory
According to the State Department of Public Works web site news letter, the letter below the second car to the countryside motorcycle manufacturers and products directory.

The full text of notice:

The second group of automobile and motorcycle manufacturing enterprises to the countryside catalog

Provinces, autonomous regions and municipalities, the city plans to separate Finance (Board), industry and information technology departments of the Xinjiang Production and Construction Corps, Finance Bureau, the information technology industry and the competent authorities:

“Ministry of Finance National Development and Reform Commission of the Ministry of Information Industry and the Ministry of Public Security General Administration of Quality Supervision General Administration of the Ministry of Commerce and Industry on the issuance of notification” (Choi Jian [2009] No. 104) stipulates that industrial and Department of information-based “vehicle manufacturers and product announcement” within the automotive motorcycle manufacturing enterprises to the Ministry of Finance, the Ministry of industry and information technology application and sign a “motor vehicle (motorcycle) to the countryside to promote the work of production agreement”, and its related models Cars can be incorporated into the scope of subsidies to the countryside; “Ministry of Finance on the implementation of the policy to increase efforts to the countryside auto notification” (Choi Jian [2009] No. 247) clear below the total mass of 1.8 tons of mini-trucks into the motor vehicle subsidies to the rural areas the scope of vehicles. Accordingly, the issuance of the second batch of motor vehicle is a motorcycle manufacturing enterprises to the rural areas and product catalog, please follow the implementation.

Requested to notify the provincial Ministry of Finance of the goalkeeper (with annex) as soon as possible to the financial departments at the township level

Share/Bookmark

Quanzhou project attracted 731 investment projects 13.6 billion which was an increase of 7.3%

Filed under: Financial News — Tags: — lily @ 8:28 am -0700

Quanzhou project attracted 731 investment projects 13.6 billion which was an increase of 7.3%
Straits Chinese in the seventh and Projects Fair project large supermarkets, Quanzhou, a total of 731 projects, “Amoy” amount of investment was 13.6 billion. Docking projects a total investment of over a hundred million yuan in 24 projects, 25 projects in Taiwan. Growth in the number of items than the previous 7.3%, the highest in the province’s second.

Docking of the 731 items of electronic information, optical-mechanical-electrical integration, chemicals, manufacturing technology, textile, modern agriculture, biomedicine, marine development, new materials, new energy and energy-saving technologies, environmental protection and comprehensive utilization of resources, mining and metallurgy, building materials areas such as domestic first-class technology. 400 contract projects in which a total investment of 6.7 billion; 252 agreements on a total investment of 5.9 billion. Including the city government in cooperation with Microsoft’s integrated information platform to serve the public, 200-megawatt amorphous silicon thin film solar cells, environmental protection research and development of renewable materials, silicon nano-battery power, aerospace research and development of breeding technology, video identification and counter-terrorism intelligence early warning systems a number of leading Taiwan signed onto the project. At the same time, the city’s assembly-line technology needs also 213.

During the exhibition, exchange of talents in our city of Quanzhou, Fujian Matchmaking Symposium special scientific and technological achievements, Quanzhou promotion of electronic communications projects, Quanzhou, “6.18″ project signing ceremony, “Microsoft’s technology center in Quanzhou” supporting activities such as listing ceremony held smoothly a total of 623 business organizations to participate in a variety of live events during the meeting

Share/Bookmark

Copyright © 2009 ChinaFinancialDaily.com; Powered by WordPress