Local Petroleum to Fast Hit Market
Guangzhou Petrochemical will provide buses in Guangzhou with cheaper, locally-produced liquefied petroleum gas, or LPG. This new product has recently passed inspection and is expected to quickly supply the local market as pricing is made. Guangzhou Petrochemical will supply 50,000 tons of LPG this year and by June 2009, the volume will rise to 100,000 tons.
"Power Supply and Management Regulations of Guangzhou" Implemented Today
The government implemented Guangzhou's Power Supply and Management Regulations today (September 1st), marking the country's first local regulation of power supply and management. Guangzhou's power grid plan will be considered in overall urban planning. Real estate agencies are expected to provide electricity plans prior to sales, while property companies are prohibited to cut electricity due to overdue bills.
Chinese Stocks Tumble by over 3%
Chinese equities fell on Monday as the hopes of investors for market-boosting measures over the weekend failed to materialize and concerns about listed companies' profitability increased. The Shanghai Composite Index was down 72 points, to 2,325. The key index has tumbled more than 55 percent this year. In Shenzhen, the market shed nearly 4%, to close at 7,685.
(Photo from xinhua.net)
Cooler Temperatures on the Rise
A weak cold front entered Guangdong yesterday(Aug 31st). The heat wave is expected to dissipate as temperatures gradually decline. We can expect highs of around 34 degree Celsius.
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