China Daily News: 3 July, Friday

June foreign trades fell at slower rate - Decline in trade figure was less severe compared to May, according to Vice Commerce Minister Chen Jian.

June power generation up 3.6% - Power generation went up 7% YoY in the last ten days of June, compared to -1.7% and 3.8% YoY change for the first 10 days and mid-10 days of June. Generation grew 3.6% for June, the first time a monthly electricity production growth was seen since last October, according to State Grid figures.

MOF unveiled details of "Home Appliance Replacement" program - From 1st June 2009 to 31st May 2010, consumers or enterprises who replace their old home appliance will get a subsidy equal to 10% of the selling price. Products included in the program are TVs, refrigerators, washing machines, air-conditioners and computers; maximum subsidy for each product is: Rmb400 per TV, Rmb300 per refrigerator, Rmb250 per washing machine, Rmb350 per air-conditioner and Rmb400 per computer. Approved companies that are responsible for recycling old home appliances will get transportation cost subsidies if they can complete the task within a designated time frame.

NDRC requests same rates for electricity and water for industrial/commercial users - In its latest notice to related parties, the NDCR has urged that industrial and commercial users be charged the same rates for the use of water and electricity. And given the difficulties faced by commercial enterprises, higher charges for peak-hour usage should be postponed if such surcharge has not been implemented.

Foreign co. encouraged to list in China - Chinese government will research into policies to allow foreign firms to list in China, an aim to stabilize foreign direct investment.

Banks' June lending hits RMb497bn - China's four largest state-owned commercial banks lent a total of Rmb497 billion in June, nearly twice the amount of credit extended in May, according to data from unnamed banking officials. BOC and Agricultural Bank of China each lent Rmb177 billion in June, followed by CCB with Rmb79 billion and ICBC with Rmb64bn.