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FINDING HIS STRIDEPHOTO BY WANG JING / CHINA DAILY Kris Peeters, the minister president of Flanders, Belgium, rides a horse from Bel- gium at the Equuleus International Riding Club in Beijing’s Shunyi county on Monday.存倉 China signed an agreement in April to import horses from Belgium.Vehicle sales post 11% rise in August China’s passenger-vehicle sales rose 11 percent in August, led by sales of sport utility vehicles, as the world’ssecond-biggest economy rebound- ed from a two-quarter slowdown.Wholesale deliveries of cars, multi- purpose and SUVs climbed to 1.35 million units last month, the State-backed China Association of Automobile Manufacturers said on Tuesday. h at compared with the median estimate of 1.36 million units by i ve analysts surveyed by Bloomberg News.PetroChina to invest in Russian gas ? elds PetroChina Co is seeking to invest in Russian gas i elds as part of ef orts by the two countries to conclude gas-supply negotiations that have dragged on for almost a decade, four people with knowl- edge of the matter said. Petro- China, the publicly traded unit of State-owned China National Petro- leum Corp, might spend at least $10 billion for a minority share of eastern Siberian gas i elds operated by OAO Gazprom and OAO Ros- net , said three people, who asked not to be identii ed as deliberations are private. “PetroChina is willing to promote all-round coopera- tion with Russia’s oil companies, and hopes to invest in Russia’supstream oil and gas exploration and development businesses,”spokesman Mao Zefeng said in an e-mail response to questions from Bloomberg News.Home sales transaction value down in Aug h e value of China’s home sales transactions fell for a second month in August from the previous month, as rising prices strained buyers’i nances. h e value of homes sold dropped to 514.6 billion yuan ($84 billion) last month from 516.5 billion yuan in July, based on the dif erence between the National Bureau of Statistics data for the i rst eight and seven months of the year on Tuesday. Housing sales from January to August were up 35.7 percent year-on-year to 3.85 trillion yuan, according to the data. Home prices posted their biggest gains in August since December, according to SouFun Holdings Ltd, China’sbiggest real estate website owner, hurting demand in the traditional low season f迷你倉r property sales amid the government’s curbs.Fonterra to double milk output in China New Zealand-based Fonterra Cooperative Group Ltd said it plans to double milk output capacity in China as demand outstrips supply and as the exporter seeks to regain consumer coni dence at er a recent contamination scare. h e dairy cooperative will build a second farm hub in the nation, a move that will double its annual production levels to 300 million liters, it said in a statement on Tuesday. h e farm is to open in the second half of 2014.Fonterra plans to raise milk produc- tion in China to 1 billion liters by 2020 as rising incomes drive people to buy more milk and yogurt.Steel mills’ situation improves as prices ? rm Daily output of crude steel edged up 1.04 percent to 2.13 million metric tons in August, ending a three-month decline, according to the China Iron and Steel Associa- tion. Earlier published data from the association show the nation’s86 major steel makers generated 2.3 billion yuan ($375 million) in aggregate proi t in July, and their combined return on sales rose to the year’s high of 0.77 percent, a stark contrast to the 0.13 percent average in the i rst half. Steel prices started to i rm in July, which greatly improved the industry’s proi t mar- gin, said Qiu Yuecheng, senior ana- lyst at 96369.net, an e-commerce research platform. h e proi t mar- gin of steel mills narrowed month- on-month during the i rst half.Spring Airlines ‘to launch ? rm in Japan’Spring Airlines, the nation’s only budget carrier, is looking to repli- cate its successful business model by setting up an aviation company in Japan, sources said. Spring Airlines will operate l ights from Japanese cities pending approval, the China Business News said. h e registered Japanese company will be a venture between Spring Airlines and Japa- nese companies, with the Chinese airline holding a 33 percent stake.Compared with major domestic airlines, Spring Airlines’ operating costs were 28 percent lower than the industry average in 2012, while its management costs were 45 percent lower than the market average.CHINA DAILY —AGENCIES Louis Kuijs, chief economist in China at the Royal Bank of Scotland Group Plc, said that in addition to the export improvement, domestic demand has become the key to driv- ing up overall growth. He pointed to自存倉