POWER PANELS: The first phase of the Kunming Shilin Solar Power Station is put into operation on May 25. The solar power station, with a total installed capacity of 166 megawatts and an investment of 9 billion yuan ($1.32 billion), is Asia's largest photovoltaic pilot demonstration power plant. It will be completed in 2015 and is expected to generate 188 million kwh of electricity annually (LIN YIGUANG)

Regional Integration

The Regional Plan for the Yangtze River Delta has been approved by the State Council, said the National Development and Reform Commission (NDRC) on May 24.

The Yangtze River Delta, embracing the Shanghai Municipality and Jiangsu and Zhejiang provinces, is the most developed region in the country.

The plan says that the Yangtze River Delta will be developed into a key international gateway for the Asia-Pacific region, an important global center for the modern service industry and advanced manufacturing industry

The Yangtze River Delta, enjoying an advantageous location, excellent natural resources and a solid economic foundation, has become one of the country's most economically competitive regions, the NDRC said.

Hot Money Investigation

An investigation on hot money commenced in February has identified a total of $7.35 billion flowing into China through 190 illegal cross-border transactions, said the State Administration of Foreign Exchange (SAFE) in a statement on May 25.

During the investigation, the SAFE inspected 3.47 million transaction records involving more than $440 billion in 13 provinces and municipalities where large volumes of foreign exchange transactions took place.

The SAFE said it had closed six cases involving illegal hot money inflows worth more than $27 million, and investigations were continuing.

An unknown amount of hot money enters China every year disguised as trade and investment, betting on the appreciation of China's currency and asset price hikes.

WB's Project

The World Bank approved a loan of $100 million to help improve urban transport in four medium-sized cities in Anhui Province.

The four cities—Anqing, Huaibei, Lu'an and Wuhu—all have solid industrial bases and have seen strong double-digit GDP growth in recent years. Urban transport infrastructure is part of the substantial program of infrastructure construction of these cities to sustain and increase their economic development.

"These cities are facing the challenge of building infrastructure amidst a move toward a low-carbon economy and in a manner consistent with national priorities on public transport and people-centered development," said Shomik Raj Mendiratta, Senior Transport Specialist of the World Bank in charge of the project.

The project investment totals $203 million. This is the fourth transport project supported by the World Bank in Anhui since 1999.

Nuclear Firm's IPO Plan

State Nuclear Power Technology Corp. (SNPTC) plans to list its shares in the second quarter of 2012, said SNPTC Chairman Wang Binghua.

SNPTC will adopt a three-pronged approach to list its shares, said Wang, who would not provide specifics on where the float would take place.

The company will increase its registered capital from 4 billion yuan ($586 million) to 10 billion yuan ($1.46 billion) through a capital injection, and set up a financial service arm this year to enter the financial sector. Final preparation for the listing would be undertaken between 2011 and the first half of 2012, said Wang.

Set up in May 2007, SNPTC is responsible for introducing and developing third-generation nuclear power technology in China.