Central Government Demands Details About Illegal Golf Courses
Eleven central government ministries, including the National Development and Reform Commission (NDRC), the Ministry of Environmental Protection and the Ministry of Land and Resources issued an urgent official notice demanding a full list of the hundreds of illegally-constructed golf courses that have been built after a 2004 regulation banning the construction of new courses on existing farmland came into effect. Local governments have until the end of June to submit the list to the NDRC along with their plans of how to deal with the illegally-constructed courses.
Source
The Beijing News
http://epaper.bjnews.com.cn/html/2011-06/23/content_246129.htm?div=-1
Google translation
http://translate.google.com.hk/translate?hl=zh-CN&ie=UTF8&prev=_t&sl=zh-CN&tl=en&u=http://epaper.bjnews.com.cn/html/2011-06/23/content_246129.htm%3Fdiv%3D-The central bank suspended its bills sale on Thursday for the first time in five months, indicating that the supply of capital on the market is insufficient and interest rates might be raised, according to a market analyst.
The central bank suspended its bills sale on Thursday for the first time in five months, indicating that the supply of capital on the market is insufficient and interest rates might be raised, according to a market analyst.
Recently the interbank market has been under pressure and the interbank offered rate, or IBOR, has been rising. The overnight IBOR rate and the one week IBOR rate have risen by 33.25 basis points and 50.83 basis points respectively to 7.47% and 8.835%.
Normally one-year central bank bills are issued on Tuesday and three-month bills on Thursday. This time, the pause has been interpreted as another signal for raising rates, in addition to the rising interest rates on the bills themselves. Interest on the three-month bills last issued Thursday has risen by 8 basis points and on the one-year bills issued last Tuesday by 9.61 basis points to 3.4019%.
Source
Guangzhou Daily
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