Design of China's 1st jumbo jet to be completed
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China's business press carried the following stories on Friday. China.org.cn has not checked the stories and does not vouch for their accuracy.
Design of China's 1st jumbo jet to be completed?-- Beijing Times
The design of China's first jumbo jet, the C919, will be completed by the end of this year, said Wu Guanghui, deputy general manager of Commercial Aircraft Corporation of China, in an interview given to Beijing Times on Thursday during the annual session of the CPPCC.
Wu, who is also the chief designer of the plane, said the C919 will be very spacious and will feature wider seats.
The manufacturing costs of the C919 will be lower than Boeing or Airbus equivalents so airlines should be able to cut ticket prices, Wu added.
Wu said the C919 will sell well in China due to its quality, capacity and cost. "As many as 2,000 C919 jetliners could be sold in 20 years", Wu said.
Home appliance trade-in program extended?-- Shanghai Securities News
The government-aided trade-in program for home electronic appliances is being extended from its initial pilot areas to the country as a whole.
According to the latest statistics, as of March 8, nine pilot areas had recycled 8.15 million electronic home appliances, and sold 7.59 million new units worth 30 billion yuan (US$4.4 billion).
The Ministry of Finance, Ministry of Commerce and Ministry of Environmental Protection have jointly published the requirements for participation in the trade-in program. Any province or city meeting the requirements before June 1 can apply. There is no limitation on the number of applicants.
SDB's net profit increases 700% -- China Securities Journal
The 2009 annual report of Shenzhen Development Bank, released today, reports net profits of 5.03 billion yuan (US$736.75 million), 719 percent up on 2008. Profit per-share was 1.62 yuan (US$0.24). The bad loan ratio of the bank remains low at 0.68 percent.
The massive year on year increase in net profits was mainly because the bank increased its bad loan provisions in Q4 2008, which affected overall results for that year.
The bank said effective risk management also contributed to the increase in profits.
