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Aero-leasing plans

Authorities are making efforts to create favourable conditions for the development of the aero-leasing industry in China.

The new draft of the Financial Leasing Law is ready for a second round of consultation, said Guo Shuyan, vice-chairman of the Financial & Economic Committee under the National People's Congress.

The draft follows international guidelines and "promotes banks investing in the industry," says Guo, leader of the work group on the law, at the China Aero-leasing Summit 2006 in Beijing last week.

Huge harvest

China is banking on a grain harvest of 490 billion kilograms this year, 6 billion kilograms more than last year, according to a forecast from the China Information Centre of Grain and Oil.

"China's 2006 grain output is likely to sustain upward momentum for the third year in a row," says Shang Qiangmin, director of the centre.

Shang says that natural disasters, particularly a two-month summer drought afflicting grain production areas, had resulted in a loss of 40 billion kilograms of grain so far this year.

He says that China could still expect an abundant harvest. China produces grain in summer  a third of annual production  and autumn. Most of North China expects a good harvest this autumn to make up for drought damage.

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