Land Sales Drop

China

Land sales in 130 major Chinese cities dropped 13 percent year on year in 2011, according to the China Index Academy. Land premiums, which are major sources of financial revenues for many local governments, reached 1.86 trillion yuan ($295.2 billion) in 130 Chinese cities in 2011. The declines were attributed to squeezed liquidity conditions of developers and the government's tightening measures, like prohibiting buying of third homes and raising down payment requirements.

Into Orbit

Nigeria

China successfully sent a Nigerian communication satellite into orbit with its Long March-3B carrier rocket from southwest China's Xichang Satellite Launch Center in Sichuan Province last December. The satellite will provide communication, broadcast, Internet connection, remote education and navigation services to parts of Africa, Europe and Asia.

Equipment Donation

Africa

China recently provided a donation worth about 30 million yuan ($4.76 million) to the African Union Mission in Somalia to reinforce the effectiveness of the Union's peace building effort in that country. Xie Xiaoyan, the newly appointed Chinese Ambassador to Ethiopia and Permanent Representative of China to the African Union, said China plays a positive role in peace and security of the African continent. He said China continues working with the African Union in the area of peace and security on the continent.