Buildings’ energy consumption monitored

THE country will establish a nationwide system to monitor energy consumption of government office buildings and large public buildings, said a circular jointly issued by the Ministry of Construction and Ministry of Finance.

A national networked monitoring platform will be established to monitor energy consumption of these buildings in real time. Meanwhile, energy consumption calculation, auditing, publicity, quota and pricing systems will be established to promote energy conservation, according to the circular. Pilot projects have started in some cities and provinces, including Beijing, Shanghai, Tianjin, Chongqing and major cities in 15 provinces and autonomous regions. The government will extend the practices across the country in 2008, said the circular.

Central banker to head development bank

THE vice governor of China’s central bank has been named head of China Development Bank (CDB), which became a major shareholder in Barclays Bank in July, a domestic newspaper reported, citing unidentified sources.

Su Ning, vice governor of the People’s Bank of China and the head of PBOC’s Shanghai branch, will replace Chen Yuan, the current China Development Bank president, the Beijing-based Economic Observer reported Saturday.

CDB, which provides loans to China’s largest infrastructure projects and offers financial aid for China’s industrial giants to internationalize, is transforming itself into a commercial bank.

Retail sales rise 15.9% in first 9 months

CHINA’S retail sales rose 15.9 percent year on year to 6.38 trillion yuan (US$851 billion) in the first nine months despite soaring consumer price index, the National Bureau of Statistics said Friday.

The growth rate of retail sales, a major gauge of consumer spending and an indicator of market movement, was 2.4 percentage points higher than the growth rate of the same period last year. In September alone, retail sales expanded 17 percent year on year.