China's business press carried the following stories on Thursday. China.org.cn has not checked the stories and does not vouch for their accuracy.

China aims for 10% of world's auto trade – Beijing Business Today

China aims to export automobiles and auto parts worth 85 billion US dollars by 2015 with an annual growth rate of 20 percent and reach 10 percent of the world's total auto trade by 2020, according to a document issued Sunday by six government departments including the Ministry of Commerce and the Ministry of Industry and Information Technology.

Geely charts Volvo revival plan – Oriental Morning Post

After being named by Ford as the preferred bidder for Volvo, Geely expects annual sales of the Swedish luxury auto brand to more than double to 1 million units over the next four or five years and is aiming for sales of more than 200,000 units in China, 15 times more than the current number. In an interview with the Oriental Morning Post on Sunday,

Geely refused to comment on the reported numbers, but said that it has high hopes that expansion in China will help enhance Volvo's competitiveness by consolidating its sales networks and procurement sources.

Development of coal-bed methane gets a boost – China Business News

The development of coal-bed methane received a boost as it made its way into the country's draft plan for new energy development.

According to the draft plan, which has not yet been made public, the country has selected 15 mining areas for the extraction of coal-bed methane and five routes for the construction of long-distance pipelines. Companies engaged in developing this form of energy will be given fiscal and tax support.

China has 12 percent of the world's total gas reserves within its territory. The plan aims for a utilization of 8 billion and 24 billion cubic meters by 2011 and 2020 respectively.

Banks end preferential home loan policy – Beijing Business Today

Officials from the Ministry of Housing and Urban-Rural Development made it clear recently that there is still no expiration date for most preferential home loan policies, but commercial banks are tightening their rules on home loans to fend off risk in the overheated housing market.

In October 2008, China's central bank announced it would reduce the lower limit of interest rates on individual home loans to 70 percent of the benchmark loan rate, in a move to stimulate the depressed property market.

China Construction Bank is now offering the preferential loan rate only with a down payment of over 30 percent.

An official from a joint-stock commercial bank also said that the lender no longer offers the discount to first-time buyers looking for homes in Beijing larger than 140 square meters.

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