Insurance to rev up growth pace
China's insurance market is likely to make further big strides in the next five years, spurred by the fast growing economy and the country's entry into the WTO. The market is expected to grow by 12% in each of the next five years, according to the China Insurance Regulatory Commission. (Business Weekly, 23 January)

Hong Kong remains top overseas investor in China's mainland
Hong Kong remains the top source of overseas direct investment in China's mainland in the first nine months of 2000. The region signed a total of 5'046 projects with the mainland in the said period, involving USD 11.44 billion in agreed investment, and actually invested USD 10.75 billion. In terms of actual investment, Hong Kong was followed by the E.U. (USD 2.67 billion), the U.S. (USD 2.51 billion), Japan (USD 1.99 billion), Singapore (USD 1.45 billion) and Taiwan Province (USD 1.43 billion). (Xinhua, 24 January)

Mastercard issuance up in China
Mastercard International issued 20 million credit cards in China last year, representing a 83% rise year-on-year. Meanwhile, the Mastercard transaction volume increased by a modest 4% to USD 63 billion. (Xinhua, 25 January)

China establishes animal cloning company
China has established a domestic animal cloning company in Yangling, China's only state-level agricultural high-tech development zone in Shaanxi Province. The company is expected to push ahead cloning technology in animal husbandry and agriculture as well as the industrialization of China's biological high-tech discoveries. (Xinhua, 26 January)

More Beijing homes sold to individuals, not institutions
Private purchases of residential housing now constitute at least 80% of total housing sales in China's capital. Individuals have replaced companies and work units as the key force behind the growth of Beijing's real estate industry. In order to attract even more private buyers, real estate developers are not only paying attention to price, they are improving quality. In the past, developers did not have to pay attention to the quality of construction because institutional buyers would buy them anyway. (ChinaOnline, 29 January)

China's business environment most difficult to navigate: report
According to PricewaterhouseCoopers' new "Opacity Index" ("Opacity" in the report is defined as "the lack of clear, accurate, formal, easily discernible and widely accepted practices in the broad arena where business, finance and government meet."), China has the most opaque business environment, leading Russia, which figures on 2nd place. (ChinaOnline, 29 January)

RMB 15 million fraud 'due to slack system'
A bank accountant embezzled more than RMB 15 million from the Government by exploiting laxity within China's financial system. The case highlights the extent of financial irregularities within the banking and tax system and reveals the free access to funds that even minor white-collar workers have. (South China Morning Post, 30 January)

Non-state investments outstrip state investments in Shanghai
For the first time in 50 years, Shanghai investments made by interests other than the central government-so-called "non-state" investments-totaled more than those made by the state. In 2000, the amount of fixed-asset investments in Shanghai reached RMB 186 billion. Non-state investments accounted for 52.1% of the total. Although the total amount of non-state investments is impressive, the overall financing structure contains significant flaws. Non-state investments are mainly limited to real estate and manufacturing, while other industries received minuscule investments from non-state entities. (ChinaOnline, 30 January)

Plans for six new north-west airports take off
The Northwest Administration of the Civil Aviation Administration of China (CAAC) plans to build six new airports in the north-western region of the country. The new airports, which the agency expects to be completed in approximately five years, are intended to serve the ambitious development projects planned for the western areas. (ChinaOnline, 30 January)

Retail sales show improvement in consumption as deflation eases
China's retail sales rose 9.7% last year, reversing a slower growth trend since 1998 and indicating improved consumer confidence as deflation eased. Economists attributed the upturn in consumption to slashed interest rates, a tax slapped on bank interest income, salary raises for civil servants and the buoyant stock market. A boom in spending on furniture and home improvements by city dwellers - supported by more mortgage lending by banks - also helped pushed up retail sales. (Reuters, 1 February)

Taiwanese investment doubles amid expectations of WTO entry
Taiwan's mainland-bound investment doubled last year to USD 2.61 billion amid expectations that both countries will join the WTO, according to the island's investment commission. (AFP, 30 January)

Taiwan's Vice-Economic Minister visits the mainland
Taiwan's Vice-Economic Minister Yin Chi-ming has started a quiet visit to the mainland as Taipei mulls easing its controls on investment. The trip comes ahead of an Economic Ministry proposal to lift mainland investment restrictions in line with both government's anticipated entry into the WTO this year. (AFP, 3 February)