2007 GDP growth revised to 11.9 percent

THE National Bureau of Statistics said Thursday it revised upward its estimate for 2007 gross domestic product growth to 11.9 percent from its initial estimate of 11.4 percent.

The statistics bureau said on its Web site that China’s GDP in 2007 totaled 24.95 trillion yuan (US$3.56 trillion). The bureau also revised its estimate for 2006 GDP growth to 11.6 percent from 11.1 percent. The bureau didn’t give a specific reason for the revision. It usually revises GDP data after the initial estimate.

March actual FDI up 39.6 percent

THE country attracted US$9.29 billion in actual foreign direct investment (FDI) in March, up 39.6 percent from a year earlier, the Ministry of Commerce said Thursday.

In the first three months of this year, China’s actual FDI rose 61.26 percent to US$ 27.41 billion, the ministry said on its Web site. The huge increase in the quarter was boosted by actual FDI in January more than doubling to US$11.2 billion from US$5.2 billion a year earlier.

Not aware of China stake buy: BHP

BHP Billiton said Thursday it knew nothing about any move from Chinese authorities to acquire a multi-billion dollar stake in the world’s largest miner.

Responding to a query from the Australian Securities Exchange, BHP said: “BHP Billiton is not aware of a proposed acquisition by Chinese authorities of a substantial stake in BHP Billiton.” Media reports that China was planning to take a stake of more than 9 percent in the miner boosted BHP’s shares Wednesday, prompting the Australian Securities Exchange to ask the company if it was aware of any reason for the share price rise.

Shangri-La hotels awarded

SHANGRI-La Hotels and Resorts, one of Asia Pacific’s luxury hotel management groups, was named “Asia’s Best Hotel Brand for Business” and “Asia’s Best Hotel Brand for Vacation” at the 16th annual travel poll by the Asiamoney magazine.

Island Shangri-La in Hong Kong was picked as “Asia’s Best Business Hotel.” Eight other Shangri-La hotels, including three in Beijing, Guangzhou and Shanghai respectively, were named among “Asia’s Best Hotels.” Hong Kong-based Shangri-La Hotels and Resorts currently owns and manages 55 hotels under the five-star Shangri-La and four-star Traders brands.