Welcome to ChinaWatch, WMB’s digest of news from the country with the world’s second largest economy. Click the links for more info. They Want Homes
China says land sales shot up 70 percent last year as the country's land and resources minister warned of social unrest among frustrated Chinese who can't afford to buy a home.
Land and resources minister Xu Shaoshi says 2.7 trillion yuan ($470 billion) was spent on land transactions last year. His comments were posted on the ministry's website, according to Bloomberg Businessweek.
He says the land transactions had resulted in uneven benefits and social conflicts.
Authorities have been trying to cool China's property market by discouraging investment buying that has helped drive prices out of reach for many city dwellers.
Largest Solar Roof
China Sunergy (CSUN) has secured a 7 MW solar module supply contract with CEEG (Nanjing) Solar Energy Research Institute, for the Nanjing South Railway Station solar roof project.
It's the world's largest stand-alone building integrated photovoltaic (BIPV) project for one structure and will be one of the most energy-efficient public buildings in China, Reuters reports.
“China Sunergy is delighted to be the module supplier for the largest stand-alone BIPV project in the world,” says Stephen Zhifang Cai, CEO of China Sunergy.
“We are very happy to see our high-quality solar panels being used in this landmark project, which will certainly raise public awareness and appreciation of renewable energy. We look forward to playing an increasingly bigger role in building China's eco-friendly projects.”
Longest Sea Bridge
At 26.4 miles long, the Qingdao Haiwan Bridge would easily cross the English Channel and is almost three miles longer than the previous record-holder, the Lake Pontchartrain Causeway in the state of Louisiana.
The vast structure links the center of the booming port city of Qingdao in eastern China's Shandong Province with the suburb of Huangdao, spanning the wide blue waters of Jiaozhou Bay.
Built in just four years, the sheer scale of the bridge reveals the advances made by Chinese engineers in recent years, The Telegraph reports.
No longer dependant on western expertise for such sophisticated projects, China's six-lane road bridge is supported by more than 5,200 columns and was designed by the Shandong Gausu Group.
When it opens to traffic later this year, the bridge is expected to carry over 30,000 cars a day and will cut the commute between the city of Qingdao and the sprawling suburb of Huangdao by between 20 and 30 minutes.
At least 10,000 workers toiled in two teams around the clock to build the bridge, which was constructed from opposite ends and recently connected in the middle.
Footing The Bill
Phoenix Suns star Steve Nash is the latest in a growing list of NBA superstars to shed ties to global footwear giants in favor of more obscure Chinese brands, Portland Business Journal reports.
Footwear site Counterkicks.com, among others, reports Nash is leaving Washington County-based Nike Inc. after 15 years to join up with Luyou, a Chinese brand whose slogan “I Think I Can” seems like an ambivalent response to Nike’s “Just Do It.”
Nash follows Boston Celtics forward Kevin Garnett, who in August swapped his Adidas kicks for a pair made by Hong Kong-based ANTA Sports Ltd., making him the most high-profile Chinese defection to date.
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