➲ Reuse and recycle

The Ministry of Industry and Information Technology released a plan in March to recycle 7 billion tons of industrial solid waste during the 12th Five-Year Plan (2011-15), in an effort to help ease the country's environmental deterioration. By 2015, around 1.6 billion tons of industrial waste will be recycled annually, with a utilization ratio of 50 percent, according to the plan.

➲ Boom to gloom

Passenger vehicle sales in China totaled 2.26 million units in the first two months of 2011, a decline of 1.4 percent from a year ago, according to data from the China Passenger Car Association. The market demand weakened as policymakers rolled back some incentives, and the continued increase in fuel prices also mounted pressures on potential buyers, said the association.

➲ Entrepreneurs' summit

The Global Entrepreneurs Summit, organized by China Association for International Economic Cooperation, will be held between June 6 and 8 in Guangzhou, Guangdong Province. The summit will cover the subject of business development amid global economic uncertainties, entrepreneurship and economic development, and how to increase China's competitiveness in the international market. A group of foreign and domestic entrepreneurs has been invited to the event.

➲ Policy justified

The Ministry of Commerce said in March that China's restrictions on rare earth exports are justified and are in line with World Trade Organization rules. The policy aims to protect resources and environment, and realize sustainable development. China has no intention of restricting free trade or protecting domestic industries by distorting its foreign trade, said the ministry. China supplies more than 90 percent of rare earth products on the global market, but its reserves only account for about one third of the world's total.

➲ Cleaner villages

The Chinese Government will invest 5.5 billion yuan ($873 million) this year to clean up pollution in the country's rural areas, said the Ministry of Finance. The central and local governments will invest further to complete the environmental clean-up of 60,000 villages across the country by 2015.

➲ 4G campaign

China's telecom giant China Mobile recently unveiled a plan to deploy TD-LTE, a 4G mobile telecommunication technology, in the country. China Mobile said that over 20,000 TD-LTE base stations would be put in operation by the end of this year, and that the number would increase 10 times by the end of 2013.

➲ Green credit

The China Banking Regulatory Commission (CBRC) recently issued a circular, requiring commercial banks to facilitate loans to "green" enterprises. The CBRC urged lenders to reduce loans to industries with high energy consumption, high pollution or excessive capacity, and to strengthen support for environment-friendly industries and projects.

➲ Business environment improves

The Kenyan cabinet in March approved three key bills aimed at drastically improving the economic and business environment in the East African nation. The statement said the adoption of the VAT bill, Company's Bill and Insolvency Bill comes soon after the city of Nairobi was ranked as one of the most competitive locations to invest new capital, in a survey done by the Economist Intelligence Unit. The Bills also exempt goods and services for export from VAT and gives better dispute resolution mechanisms between tax payers and the Kenya Revenue Authority.

➲ Aviation show

The Beijing International Business Aviation Show, the first such show in the Chinese capital and hosted by China World Trade Center Co. Ltd., will be held between September 4 and 7, and about 6,000 buyers are expected to attend. The show has invited 150 exhibitors, most being manufacturers of international business jets, according to the organizer of the show.

➲ Bankcard sector grows

China's commercial banks opened new accounts for 2.9 billion debit and credit cards last year, up 22.1 percent year-on-year, indicating accelerating expansion of the bankcard business that has promoted the development of the retail market, said the People's Bank of China or the central bank in March.

➲ SOEs profits decline

Profit growth for Chinese state-owned enterprises (SOEs) slowed during the first two months of 2012, the Ministry of Finance said in March. The SOEs' profits fell 10.9 percent year-on-year to reach 363.5 billion yuan ($57.7 billion) during the first two months, said the ministry. The profits of centrally-administered SOEs fell 11.5 percent year-on-year to 211.97 billion yuan ($33.6 billion), while those under local governments saw their profits down 10 percent to 51.53 billion yuan ($8.2billion).

Numbers

0.9%

China's FDI down in Feb

4,282

The number of micro-credit companies in China by the end of 2011

$20 Billion

China Mobile's net profit in 2011

$4.34 Billion

2011 value of Botswana diamond exports

$46 Million

Stolen from South African state coffers in 2011 financial year