Midland estimates 15pc fall in July property deals
Midland Realty expects property transactions to have fallen 15 per cent to 13,387 last month from June because of fewer new projects put on sale. But total transactions stood above the 10,000 level for the fourth consecutive month, nearly 50 per cent more than a year earlier, two months before the collapse of Lehman Brothers in mid-September. Official government figures have not yet been released. Agents believe more than 300 units were sold in the first and second-hand market over the weekend. In the primary market, sales were dominated by Harbour Place in Hung Hom and Le Prestige in Tseung Kwan O with a total of 270 units sold. Sandy Li
Guangdong investments flat amid spending curbs
Foreign direct investments in Guangdong remained flat at US$9.79 billion in the first six months of this year as investors tightened their belts during the global financial crisis, Xinhua reported. The investments, which were 0.2 per cent higher than the same period last year, were dragged down by a 21 per cent drop in spending in primary industries and a 1.6 per cent decline in secondary industries. Meanwhile, the province's core exports - processing trade manufacturing, which uses imported raw materials to produce and assemble consumer goods for export - slumped 23.7 per cent to US$94 billion. Denise Tsang
Mainland energy use drops but lags 5-year reduction goal
Mainland energy consumption per unit of gross domestic product fell 3.35 per cent in the first half of this year, marginally better than in the same period last year, the National Development and Reform Commission said. The fall, compared with a 2.88 per cent drop in the previous period, still lagged an average drop of 4 per cent annually needed to meet a 20 per cent reduction target in the five years to next year. The NDRC said it would shut more outdated steel and cement plants and use fiscal policies such as subsidies on developing energy-friendly consumer products and promote awareness of energy saving. Denise Tsang