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News from China
Volkswagen to recall 1,993 vehicles in China
31st January 2017

 VOLKSWAGEN China will recall 1,993 vehicles in Chinese mainland due to defective body control modules (BCM), according to the country's top quality watchdog.

 
The recall, set to begin on Feb. 20, affects 1,476 imported 2016 Magotan travel series manufactured between Feb. 9, 2016 and May 30, 2016,and 517 imported 2016 Magotan four-wheel drive series manufactured between Feb. 9, 2016 and June 2, 2016, according to the General Administration of Quality Supervision, Inspection and Quarantine.
 
The defective BCM of affected vehicles might cause the dysfunction of car lamps when driving, posing safety risks, said the statement.
 
Volkswagen China promised to check all the affected vehicles and replace the defective parts free of charge.
Source: Shanghai Daily, January 31, 2017
China looks to Mars, Jupiter exploration
30th January 2017

 

 
BEIJING, Jan. 30 (Xinhua) -- China's plans for deep-space exploration included two Mars missions and one Jupiter probe.
 
China plans its first Mars probe by 2020, said Wu Yanhua, vice director of the China National Space Administration.
 
A second Mars probe will bring back samples and conduct research on the planet's structure, composition and environment, Wu said.
 
Also on the agenda are an asteroid exploration, and a fly-by of the Jupiter system.
 
China aims to become a space power around 2030 with an advanced and open aerospace industry and space infrastructure.
 
Key aerospace projects currently planned by around 2020 include manned space programs, lunar probes, the BeiDou Navigation Satellite System and the Gaofen (High Resolution) observation satellite program, according to a white paper on space activities released late last year.
Source: Xinhua, January 30, 2017
China's property market to see slower sales growth in 2017: Moody's
27th January 2017

 MOODY'S Investors Service expects China's property market to show a slower pace of sales growth in 2017 following tightened regulations to ease an overheated market.

 
"We expect nationwide contracted sales in 2017 will be largely flat or will see a slight decline from 2016, after buoyant growth that year," Chris Wong, a Moody's analyst, said in a report released Thursday.
 
China's contracted sales grew by 36.2 percent year on year to a record high of 9.9 trillion yuan (US$1.4 trillion) in 2016, driven by growth in both sales volumes and average prices, according to the report.
 
The growth pace in December, however, slowed from that seen in the first three quarters after the Chinese government implemented tightening measures from late September to cool the sector, Wong said.
 
Dozens of Chinese cities have announced measures, including purchase limits and tightened mortgage restrictions, to prevent housing prices rising out of control.
 
These policies have started to pay off. In December, of the 70 major cities monitored by the National Bureau of Statistics, 46 saw their new housing prices climb month on month, down from 55 in November and 62 in October. Meanwhile, 20 cities reported month-on-month price declines, increasing from 11 cities in November and seven cities in October.
 
Moody's also forecast that low inventory levels in China's first- and second-tier cities will reduce the risk of property price corrections in the next six months.
Source: Shanghai Daily, January 27, 2017
New index for interbank bond market
26th January 2017

 CHINA’S interbank bond market will be included in a new index under Bloomberg Barclays indexes to reflect the growing importance of the country’s financial markets, Bloomberg LP said yesterday.

 
The newly created China Aggregate Index will be launched on March 1, Bloomberg said in a statement yesterday.
 
The index will track government securities valued at more than 5 billion yuan (US$727 million) and corporate securities worth above 1.5 billion yuan.
 
Investors are awaiting China’s entry into global indexes such as JPMorgan Chase & Co’s emerging-market bond index and Citigroup’s global debt barometer to invite an increase of foreign participation in China’s onshore bond market.
Source: Shanghai Daily, January 26, 2017

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