»The funding gap of China’s affordable housing project reaches more than 500 billion yuan, the official China Securities Journal reported, citing Chen Yuan, Chairman of China Development Bank.

»The Chinese government had pledged early this year to start building of 10 million units of affordable homes, with the cost estimated at 1.3 trillion yuan.

Advanced and excessive investment has already affected the credit for the toll-road industry

China’s toll-road industry’s outlook rating was cut from “stable” to “negative” last week by a major domestic rating agency, citing reasons of the imminent huge short-term debt repayment pressures for the industry.

World's largest fast food restaurant company Yum Brands Inc. has made a preliminary offer to buy the remaining stake in the Little Sheep.

Chinese Restaurant chain Little Sheep Group Ltd. said Tuesday world's largest fast food restaurant company Yum Brands Inc. has made a preliminary offer to buy the remaining stake in the company.

Yum, the owner of KFC, Pizza Hut and Taco Bell fast-food brands, already holds a 27.2 percent stake in Little Sheep, which it purchased in 2009.

China Mobile, the country's largest mobile phone operator, is expected to get mobile payment license this September, a people familiar with the matter told a Caijing reporter yesterday.

China mobile early this year adopted 13.56 MHZ as the national payment standard while alternative standards such as 2.45GHz will be used only in closed application environments, such as corporate buildings and will be patented.

Gome's new e-commerce website will contribute 10 percent of sales of the group within three years.

Gome Electrical Appliances (0493.HK), China's largest electronics retailer by revenue, officially launched its new e-commerce website yesterday, its second step into e-commerce.

ZTE, China's second-largest telecommunications equipment maker, reported a net profit increase of 15.86 percent in the first quarter on strong mobile phone sales.

Net profit attributed to the parent company was 127 million yuan ($19.49 million) ended March, up 15.86 percent from a year earlier; while revenue grew 13.8 percent year on year to 15.09 billion yuan in the first three months.

Sales revenue from terminal products grew 51 percent year on year, ZTE said.

China Security Regulatory Commission (CSRC), China's sole market regulator for stocks, bonds, futures and mutual funds, has approved 73 public initial offerings (IPO) among 87 applications this year, ending April 14.

Applications from 13 companies, with six aiming for growth enterprise market, were denied and one was cancelled, bring the passing rate to 83.91 percent, lower from last year's 84.69 percent.

ExxonMobil will supply 2 million tonnes of LNG from Papua New Guinea annually for China Petroleum and Chemical, or Sinopec, and 2.25 million tonnes of LNG from the Gorgon gas filed in Australia for China National Petroleum Corporation, or PetroChina.

ExxonMobil has entered agreements with top Chinese oil giants over natural gas supply and transportation, Caijing reporters learned from an internal meeting of China Shipping Development (600026.SH/01138.HK).

New Chinese car sales stood at 4.98 million units in the first three months, marking a sharp decline of 63.7 percent in growth from the same period of last year.

China auto sales growth slowed in the first quarter this year on soaring oil prices and the exit of favorable vehicle buying policies, government data shows.

China Railway Construction Corporation (601186.SH), the world's largest listed builder, announced late Wednesday it has won six orders for highway and mine construction worth a combined 11.6 billion yuan (1.77 billion U.S. dollars).

That accounts for 2.47 percent of its full year revenue in 2010, the company said.