Property tax to be introduced step by step in the country, says senior official
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Problems, however, rose during the urbanization process such as over-investment in unprofitable enterprises, a high debt burden for local governments and environmental pollution.
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Prices and transaction volumes of pre-owned homes in both Beijing and Shanghai declined. In the capital, an average home transaction took 30-odd days in April 2017 but extended to nearly 80 days in February, with homes traded at a lower price level than that of January 2017.
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Private investment is even encouraged in the defense science and technology industries, including China's Chang'e-4 lunar probe mission, which aims to be mankind's first soft landing on the far side of the moon in around 2018.
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Previously the company indicated the plant is scheduled to begin production in 2019. BeijingWest Industries is a joint venture of Shougang Corp and Beijing Fangshan State-Owned Asset Management.
Prices of live pigs went up 2.5 percent while liquefied natural gas dropped 2.5 percent.