•    Per capita disposable income in urban areas rose 13 per cent in 2007. However, 10 per cent of low-income families in urban areas had incomes of just 38.3 per cent of the national average, according to Chinese Academy of Social Sciences.

•    China had 159.8 million licensed vehicles on its roads at the end of 2007, up 10.02 per cent on 2006.

•    Shanghai-based SAIC Motor Corp will pay RMB923m for a 50.3 per cent stake in Shanghai Diesel Engine Co. The move follows SAIC’s December purchase of Nanjing Automobile Group Co.

•    Hong Kong retail sales grew 19.5 per cent year on year in November 2007, the highest rise for three years.

•    Singapore’s Changi Airport plans to buy stakes in up to 15 overseas airports, with around half of these targets located in China. In December, Changi purchased a 29 per cent stake in Nanjing Lukou International Airport – its first China deal – for USD138m.

•    Yu Zhifei, the man credited for bringing Formula One to Shanghai and the former Chief of Shanghai international Circuit and Shanghai Shenhua Football Club was sentenced to four years in jail for embezzling RMB1.05m.

Last update : Saturday, 05 January 2008

Keywords : Income, Vehicles, SAIC, Hong Kong, Singapore, Changi, Formula One

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