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China Eastern Airlines Corp Ltd's stake in China Cargo Airlines will fall to 51 percent from 70 percent after a 1.6 billion yuan ($232.9 million) capital increase, according to Reuters' report on Sunday.China Cargo Airlines, which had total assets of 4.6 billion yuan and net liabilities of 344.6 million yuan as of Dec 17, will buy the core air cargo transportation business and related assets of Great Wall Airlines and Shanghai Cargo Airlines after increasing its capital base to 2.5 billion yuan, the report said.China Eastern Airlines said in a statement on Nov 15 it had agreed to inject 1.05 billion yuan in the capital increase.Meanwhile, China Ocean Shipping Group, contributing 348.5 million yuan to the capital increase, will see its stake in China Cargo Airlines fall to 17 percent from 30 percent.Concord Pacific and Singapore Cargo Airlines, contributing 328 million yuan each, will each own 16 percent of the recapitalized cargo group, the report said.

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China's land regulators urged local land authorities late Sunday to take concrete measures against excessive growth in the country's land prices in some Chinese cities and crack down on illegal behavior, such as land hoarding, to ensure the implementation of the government's cooling measures on the property market.The Ministry of Land and Resources (MOLAR) said in a statement on its website that the recently seen high prices in land sales in some Chinese cities had raised social concerns, which local land authorities should pay considerable attention to, and take actions to curb the rapid growth in land prices.According to the MOLAR, cities and counties that had not provided more than 70 percent of the total land supply this year to shantytown renovation, the construction of affordable homes and medium-priced commercial housing, should not provide land for high-end housing for the rest of this year.Further, for land sales with over 50 percent premium rate or record high prices, local governments should report to provincial land authorities and the MOLAR within two working days after the deal is closed.The procedures of supplying land should also be strictly conducted, and there should never be any change in the use of land that is for the construction of affordable housing, said the statement. From Dec 7 to 9, the World Congress on High Speed Rail was held in Beijing. It is the first time for this meeting to be held outside Europe as a recognition of China's achievement in high-speed rail technology in recent years.The Proposal on Formulating the Twelfth Five-Year Program (2011-2015) on National Economic and Social Development, released in October, said that technological advancement and innovation should be a significant pillar in accelerating the transformation of China's economic development pattern.This stress on innovation will further promote companies to engage in independent technological innovation and increase the added value of their products.Residents of Yeonpyeong island were told to take shelter ahead of the imminent drill, which officials here said the live-fire drill was part of routine exercises suspended after the DPRK's deadly artillery bombardment on November 23 on the island of Yeongpyeong.The exercise is likely to be held between 11 am and noon, Seoul's Yonhap News Agency said, citing unidentified sources.The DPRK, claiming its recent shelling was for its self-defense, railed against the planned firing exercise and warned of "self- defensive blows".Pyongyang never acknowledged a disputed maritime border near Yeonpyeong, unilaterally drawn by the US-led United Nations military forces at the end of the 1950-53 Korean War. The two Koreas have had fatal naval skirmishes near the sea border, called the Northern Limit Line.Representatives from the Armistice Commission and the United Nations Command are expected to watch the drill, according to local reports. The Republic of Korea (ROK) will conduct a live-fire drill Monday from a western border island shelled last month by the Democratic People's Republic of Korea (DPRK), the Joint Chiefs of Staff (JCS) in Seoul said.