Our daily round-up of the best China stories from the 21st Century Business Herald

CPC to set up 4 party-building mechanisms by 2020

Wang Jingqing, Vice Minister of The Organizing Department of the Central Committee of the Communist Party of China (CCCPC) introduced the undertaken works of party building in the first press conference following the opening of the 18th National Congress of Communist Party of China (CPC) at 3 pm, Nov, 9.

Wang stated that CPC plans to complete the establishment of 4 mechanisms: mechanism of selecting and appointing cadres, mechanism of cadre assessment, mechanism of management and supervision of cadres and incentive and insurance mechanism of cadres, by the year 2020.

China's first private cross-border gas pipeline gets approval

Guanghui Energy （600256,SH) announced on Nov. 9 that its Sino-Kazakh cross-border gas pipeline has obtained the approval of two countries government to begin construction. This is China's first private cross-border pipeline, and is also an important connection of Guanghui Energy to the international energy industry. It has spent 3 years on obtaining approval.

Second-hand home prices in Beijing average 23,264 yuan/㎡ in October

October's average second-hand home trading prices was 23,464 yuan per square meter in Beijing, falling 0.65 percent month-on-months. The average price has been gliding for a consecutive 2 months since September.

The trading volume of second-hand homes in Beijing also declined in October.Except for the factor of the National Holiday, more potential buyers chose to wait and see and were less enthusiastic to buy, which was one of the factors to the dip of the trading volume as well.

CPI reaches a new low in October

According to data publicized by the National Bureau of Statistics (NBS), China's consumer price index (CPI) grew 1.7 percent year-on-year in October, creating the new low within the last three years.

According to NBS, the pork price dropped 15.8 percent in October, affecting CPI in a 0.6 percent decline, which becomes the major factor to the lowest growth rate of CPI in three years.