Quick review: Jan 7-13
Updated: 2008-01-14 11:01
Six-nation deal in rail cargo
Railway authorities from six countries last Wednesday signed a memorandum on expanding cooperation on railway transport that is expected to boost trade and cargo flows between Asia and Europe.
The six countries - China, Mongolia, Russia, Belarus, Poland and Germany - agreed to create conditions that will pave the way for a regular container train service between Asia and Europe.
They agreed to collaborate on customs and border patrols to simplify transit procedures and minimize the time needed for container trains to cross borders.
The gathering marks the first time the governments of the six countries have reached a consensus on the route, insiders said.
Listed company values soar
The average market value of Chinese listed companies in 2007 rose 235 percent year-on-year to stand at 21.2 billion yuan, the China stock market value management and research center said in a report last Wednesday.
The report said that the Chinese stock market had become the fourth-largest in the world after the US, Japan and the UK. Its total market value increased by 269 percent in 2007.
The number of companies with capitalization under 1 billion yuan was down to 56 in 2007 from 424 a year earlier, down 746 percent.
Price-intervention measures
The government will introduce a range of temporary price-intervention measures in a bid to stabilize the cost of daily necessities, a State Council executive meeting said last Wednesday.
According to the meeting, large-scale producers of such products must seek government approval before imposing any price increases.
Similarly, large-scale wholesalers and retailers that want to raise prices will first have to notify the government.
The State Council has not yet specified what the products are, or when the measures will be introduced.
The country's price law stipulates that the State Council can temporarily freeze prices or centralize the price-setting power on part of or the whole market if the prices experience dramatic fluctuations.
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