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8.103 Posts, Pagina: « 1 2 3 4 5 6 ... 224 225 226 227 228 229 230 231 232 233 234 ... 402 403 404 405 406 » | Laatste
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9 Killed In Northeast China's Coal Mine Incident - Report

CGTN reported that nine people were killed in a coal mine incident in northeast China's Jilin Province. Ten people are currently receiving treatment at hospital, but none sustains life-threatening injuries.

However, the incident happened at around 8:00 pm on Sunday in Longjiabao coal mine and triggered a 2.3 magnitude earthquake, trapping 19 miners underground. Rescue operations have concluded and an investigation into the case has been launched.

Source : CGTN
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China’s First LNG Bunker Vessel To Feature Integrated Wärtsilä Solutions

China’s first seagoing LNG bunker vessel will operate with a comprehensive and integrated package of highly efficient and environmentally sustainable solutions from the technology group Wärtsilä. The ship is being built by the Dalian Shipbuilding Industry Corporation for an affiliate of the ENN Energy holdings, one of the largest users of LNG in China. It has been designed by China Ship Design & Research Center Co Ltd. The orders with Wärtsilä were booked in Q1 2019. Wärtsilä will provide the vessel’s cargo handling system, the Wärtsilä 34DF dual-fuel main engine, the gearbox, controlled pitch propeller, shaft generator, two Wärtsilä 20DF dual-fuel auxiliary engines, and the ship’s sewage treatment plant. The integrated gas, propulsion, and waste treatment systems are designed to deliver high efficiency with stable and clean operations. The equipment is scheduled for delivery in early 2020.

Scott Oh, Area Sales Director, Middle East & Asia, Wärtsilä Marine, said that “Being the first vessel of its kind built and owned by Chinese companies, makes this an important and exciting project. The experience and well-established track record that Wärtsilä has in LNG shipping applications is again endorsed with this latest order. Our ability as a single-source supplier to offer the full and integrated package of solutions brings real value to both the owners and the yard.”

Source : Strategic Research Institute
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Gazprom & CNPC Discuss Gas Supplies To China Via Power Of Siberia

A working meeting between Mr Alexey Miller, Chairman of the Gazprom Management Committee and Mr Wang Yilin, Chairman of the Board of Directors of CNPC, took place at the St Petersburg International Economic Forum 2019. The parties discussed the ongoing preparations for the start of Russian gas supplies to China via the eastern route on December 1 this year. Start-up operations are currently underway on the gas pipeline. The construction of the border-adjacent Atamanskaya compressor station, which will maintain the required pressure during gas deliveries to China, is nearing completion. Mr Alexey Miller and Mr Wang Yilin paid particular attention to the planned deliveries of natural gas to China from Western Siberian fields and Russia's Far East.

In addition, the meeting touched upon the collaboration between the companies in the areas of gas-fired power generation, underground gas storage, and use of natural gas as a vehicle fuel.

Source : Strategic Research Institute
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China: geven niet toe aan druk VS

Gepubliceerd op 13 jun 2019 om 10:31 | Views: 4.234

PEKING (AFN/RTR/BLOOMBERG) - China zal niet toegeven onder ''maximale druk'' van de Verenigde Staten in het handelsconflict tussen beide economische grootmachten. Dat verklaarde het Chinese ministerie van Handel.

Volgens het ministerie zal China ''vechten tot het einde'' als de VS blijven aandringen op escalatie van de handelsoorlog. Peking zal geen concessies doen op principiële punten in de handelsgesprekken met de Amerikanen, aldus een woordvoerder van het ministerie. Hij zei verder dat het escalerende handelsconflict zal leiden tot een recessie voor de Amerikaanse economie en de wereldeconomie.

De Chinese vicepremier Liu He verklaarde eerder op de dag op een financieel forum in Shanghai dat China sneller gaat werken aan economische hervormingen, met name rond markttoegang, eerlijke concurrentie en eigendomsbescherming, vooral intellectueel eigendom. Volgens Liu is China goed in staat om met verschillende uitdagingen om te gaan.
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'Alibaba gaat voor tweede notering in Hongkong'

Gepubliceerd op 13 jun 2019 om 08:38 | Views: 1.168

NEW YORK (AFN) - De Chinese techreus Alibaba heeft documenten ingediend voor een tweede beursnotering in Hongkong, naast zijn huidige notering in New York. Dat meldt persbureau Bloomberg op basis van ingewijden.

Alibaba zou een slordige 20 miljard dollar willen ophalen, aldus de bronnen. Dat zou de grootste beursgang in Hongkong zijn sinds 2010. Een notering in Azië zorgt er ook voor dat Alibaba de afstand met investeerders uit China verkleind.

Bij het beursdebuut van Alibaba in New York in 2014 haalde het bedrijf een recordbedrag van 25 miljard dollar op. Vorig jaar zou het techbedrijf en internethandelsplatform al groen licht hebben gekregen voor een zogeheten dual-listing in Hongkong. Alibaba wilde niet reageren.
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China roept VS op om sancties op Chinese bedrijven in te trekken - media

(ABM FN) China heeft de Verenigde Staten opgeroepen de unilaterale sancties die zijn opgelegd aan Chinese bedrijven in te trekken. Dit deed een woordvoerder van het Chinese ministerie van Handel donderdag volgens persbureau Bloomberg.

De woordvoerder zei verder dat er geen nieuws te melden is op het vlak van de onderhandelingen tussen China en de VS.

Het ministerie merkte volgens Dow Jones Newswires nog op dat China geen nieuwe controlemechanismen instelde op de export van zeldzame metalen. Dat is iets waar de VS voor vrezen, omdat dit essentiële grondstoffen zijn voor allerlei producten, waarbij China over de grootste reserves beschikt.

Reuters voegde toe dat de zegsman zei niet te zullen zwichten voor de druk van Amerika, hoe hoog die ook is.

Mochten de VS het handelsconflict laten escaleren, dan zal China "tot het einde toe vechten", waarschuwde de woordvoerder, volgens Bloomberg.

"Niets is akkoord totdat alles akkoord is", zei de woordvoerder van het ministerie van Handel volgens Reuters.

"We merken enige externe druk op dit moment, maar dat is de onvermijdelijke test die de Chinese economie moet ondergaan bij het maken van een volgende stap", zei de Chinese vice-premier Liu He volgens de South China Morning Post donderdag tijdens een bijeenkomst.

"Wat er ook tijdelijk gebeurt, de langetermijngroei van China blijft positief, dat zal niet veranderen", aldus Liu He, die geldt als een van de belangrijkste Chinese onderhandelaars.

Door: ABM Financial News.
pers@abmfn.be
Redactie: +32(0)78 486 481

© Copyright ABM Financial News B.V. All rights reserved.
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Renesas And Volkswagen Unveil Joint Laboratory For China’s Automotive Market

Renesas Electronics Corporation a premier supplier of advanced semiconductor solutions announced it has established the “Automotive Electronic Joint Laboratory” with SAIC Volkswagen Automobile Co. The SAIC-Volkswagen-Renesas Joint Laboratory will accelerate research and development efforts to support emerging automotive electronics applications, starting with cockpit and vehicle control, for the Chinese automotive market.

The joint laboratory will combine Renesas’ advanced microcontrollers, system-on-chips and software expertise with SAIC Volkswagen’s development capabilities, supporting SAIC Volkswagen to develop next-generation automotive electronic platforms with software module development and system integration capabilities to meet the demands of the Chinese automotive electronics industry.

Mr Tomomitsu Maoka, Senior Vice President of Renesas Electronics Corporation and Chairman of Renesas Electronics China said that “We are excited to partner with SAIC Volkswagen and combine our respective expertise areas to strengthen business with the Chinese market and further automotive design innovation. Through this joint laboratory, we will explore emerging and leading technologies that can drive new innovations for the automotive industry in China.”

Dr Qingwen Wu, Executive Director at SVW said that “Under the new establishment of a joint laboratory, we look forward to further strengthening our cooperation with Renesas. Through our close collaboration in the field of vehicle body electronics and in new fields such as digital cockpit and smart connectivity, we aim to develop a hardware and software platform that will enable us to attain leading market positions.”

Source : Strategic Research Institute
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Chinese Stimulus Hopes Support Copper Price - Report

Copper prices touched their highest point in two weeks this week, lifted by hopes that top consumer China will pump money into building metals-intensive infrastructure. News that China will allow local governments to use proceeds from special bonds as capital for investment projects came after the United States and Mexico reached a deal on Friday to avert US tariffs on Mexican goods, supporting prices of copper and other metals. Benchmark copper on the London Metal Exchange also reached USD 5,956 a tonne in intraday trading before slipping back to finish only USD 2 up from Monday's close at USD 5,876.

Fears that trade disputes will damage economic growth and metals demand had helped to push down copper prices by 15% from an April high to a five month low of USD 5,740 on Friday.

Capital Economics analyst Ross Strachan said that "Optimism is stemming from talk of additional stimulus out of China. It's not a major surprise that markets have latched on to some positive news. It's been a bit of a bloodbath recently."

Source : Strategic Research Institute
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Hogere heffingen China op pijpen VS en EU

Gepubliceerd op 14 jun 2019 om 08:28 | Views: 0

PEKING (AFN/RTR) - China gaat de invoertarieven verhogen op bepaalde hoogwaardige stalen pijpleidingen uit de Europese Unie en de Verenigde Staten, die vooral worden gebruikt in energiecentrales. Dat meldde het Chinese ministerie van Handel.

De heffingen lopen uiteen van 57,9 tot 147,8 procent en gaan vanaf vrijdag in. Die nieuwe tarieven liggen tot wel 10 keer hoger dan de eerdere heffingen die in 2014 werden opgelegd en in mei afliepen. Volgens het ministerie volgt de stap op verzoeken voor hogere heffingen op de betreffende producten van de eigen binnenlandse industrie.

Tot de bedrijven die geraakt worden door de hogere heffingen behoren bijvoorbeeld het Franse Vallourec en het Amerikaanse Wyman-Gordon. Volgens de meest recente volledige data importeerde China in 2017 voor 9500 ton aan hoogwaardige stalen pijpleidingen voor utiliteitsgebruik, waarvan bijna 95 procent van die producten afkomstig was uit de VS en EU.
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Productiegroei industrie China zwakt af

Gepubliceerd op 14 jun 2019 om 09:26 | Views: 390

PEKING (AFN/BLOOMBERG) - De industriële productie in China is in mei minder sterk toegenomen dan een maand eerder en liet de traagste groeistijging zien sinds 2002. Dat blijkt uit cijfers die het Chinese statistiekbureau heeft gepubliceerd.

De productie in de omvangrijke Chinese industrie steeg op jaarbasis met 5 procent, na een toename met 5,4 procent in april. Economen hadden in doorsnee voor mei op een productiegroei met 5,4 procent gerekend. De industrie in het land kampt onder meer met tegenwind van de oplopende handelsspanningen met de Verenigde Staten.

Verder werd gemeld dat de detailhandelsverkopen in China vorige maand me 8,6 procent zijn gestegen op jaarbasis, wat juist sterker is dan een maand eerder en de gemiddelde verwachting van economen. De werkloosheid in China bleef stabiel op 5 procent.
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Groeitempo Chinese detailhandelsverkopen sterk toegenomen

(ABM FN-Dow Jones) De detailhandelsverkopen in China zijn in mei in een beduidend hoger tempo gegroeid. Dit bleek vrijdag uit overheidscijfers.

De verkopen stegen in mei met 8,6 procent op jaarbasis. In april ging het nog om een toename van 7,2 procent, maar in de voorgaande maanden lag de groei ook steeds boven de acht procent.

Op maandbasis was er in mei een groei van 0,74 procent, terwijl dit een maand eerder nog 0,46 procent was.

Door: ABM Financial News.
info@abmfn.nl
Redactie: +31(0)20 26 28 999

© Copyright ABM Financial News B.V. All rights reserved.
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China Relaxes Infrastructure Project Finance Rules

China's latest stimulus move to bolster economic growth by relaxing restrictions on how the proceeds of local government bonds are used, paving the way for a new wave of infrastructure investment. Local governments can now use the funds raised as equity capital for major infrastructure projects having previously needed to fund the minimum equity ratio requirement, usually 20-30% of total investment in the project, themselves. The move by the government comes amid signs that domestic economic momentum is weakening due to headwinds from the trade war with the United States. The new rule, announced by the General Office of the Communist Party of China and the State Council, could boost the growth rate of Chinese infrastructure investment by 3-5 percentage points The government said the new rule will not increase the country's financial risk as special bonds must be used for projects that have been estimated to make a certain return on the investment.

Provincial and municipal governments in many parts of the country have been finding it increasingly difficult to raise sufficient funds to support ongoing projects following the central government’s decision to cut the value-added tax rate for most businesses and increase the individual income tax threshold as part of its effort to stimulate the economy.

The policy is more about guaranteeing that major projects have good quality support, rather than providing general support for all infrastructure investment.

Source : Strategic Research Institute
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Geely Auto and LG Chem to Establish JV to Produce EV Batteries in China

Shanghai Maple Guorun, an indirect 99% owned subsidiary of Geely Automobile Holdings, the listed arm of Geely Auto, announced a new joint venture partnership with LG Chem of South Korea, one of the world’s leading manufacturers of electric vehicle batteries. Under the terms of the agreement, Shanghai Maple Guorun and LG Chem will establish a joint venture company with a 50:50 share structure that will be jointly engaged in the production and sales of new energy vehicle batteries. Total registered capital in the new joint venture will reach USD 188 million USD split equally between both parties.

In November 2015, Geely Auto was one of the world’s first automotive brands to commit to electrifying its product range. Under the Blue Geely Initiative, Geely Auto aims for 90% of its sales to come from electrified vehicles, including mild hybrids, plug-in hybrids and pure electric vehicles, starting from 2020. The joint venture with LG Chem will help Geely to realise its Blue Geely Initiative with a stable supply of core components for Geely Auto, to be used in future products to meet Chinese consumer demand for new energy vehicles.

The Chinese new energy vehicle market reached 1.25 million units in 2018, accounting for 62% of total global electric vehicle sales, with strong growth predicted for the overall market in coming years. In May 2019, Geely Auto sold more than 10,115 electrified vehicles, representing a 25% increase in sales over the same period a year earlier. In the first five months of 2019 Geely Auto sold a total of 41,615 pure electric and electrified vehicles. Geely launched the Geometry brand in April 2019 as a pure electric brand within Geely Auto, and has secured strong sales for its first model: Geometry A. Within the next two years Geely Auto plans to launch more than 30 electrified vehicles including hybrid and pure electric vehicles.

Source : Strategic Research Institute
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China To Reduce Output At Coal Mines At Risk Of Bumps – NEA

China's National Energy Administration announced that it will curb output by 20% at coal mines at risk of bumps, or sudden jolts inside a mine that often lead to serious damage and injuries. NEA said that production curbs would be implemented on mines that are more than 1,000 metres deep.
Bumps occur when rock and coal erupt from the side of a mine shaft or tunnel under pressure from overhead rock.

The move follows an announcement from the National Coal Mine Safety Administration last month capping output at mines deemed at risk of 'bumps' to 8 million tonnes. China has 400 million tonnes a year of coal mining capacity at risk of bumps, more than 10% of the country's total capacity of 3.53 billion tonnes

Source : Strategic Research Institute
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'Huawei-ban kost bedrijf miljarden omzet'

Gepubliceerd op 17 jun 2019 om 13:24 | Views: 1.452

PEKING (AFN/BLOOMBERG) - De Amerikaanse sancties tegen de Chinese techreus Huawei kosten het bedrijf de komende jaren miljarden aan omzet. Oprichter Ren Zhengfei spreekt van een impact op de opbrengsten in de komende twee jaar van zo'n 30 miljard dollar.

Huawei werd eerder door de VS op een zwarte lijst gezet op verdenking van spionagepraktijken. Verschillende Amerikaanse bedrijven schortten daarop leveringen aan Huawei op. Zhengfei hield er naar eigen zeggen geen rekening mee dat het bedrijf en zijn leveranciers zo hard zouden worden aangepakt.

Volgens Zhengfei zorgen de sancties er voor dat de omzet van Huawei dit jaar en volgend jaar stabiliseert op circa 100 miljard dollar. Volgens ingewijden lijkt het Chinese bedrijf zelf al rekening te houden met een daling van het aantal overzeese verzendingen van zijn smartphones met 60 procent.

Huawei wil de uitgaven aan onderzoek en ontwikkeling op peil houden. Het bedrijf kondigde eerder al aan dat het mogelijk met eigen chips zal komen en dat het aan alternatieven werkt om zijn voorsprong op het gebied van smartphones en 5G-technologie te behouden. Door eerdere spanningen tussen China en de VS zou het bedrijf de nodige voorraden aan chips en componenten hebben opgebouwd.
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China Raises Anti-Dumping Duties On Alloy-Steel Pipes From US And EU

China's Ministry of Commerce announced that it will raise anti-dumping duties on imports of alloy-steel seamless pipes from the United States and the European Union. US producers of the tubes and pipes for high temperature and pressure service are subject to anti-dumping duties of between 101% and 147.8% while rates for EU companies range between 57.9% and 60.8%. The adjusted rates took effect on Friday.

China started to impose anti-dumping duties ranged between 13 and 14.1% on imported alloy-steel seamless pipes from those regions in 2014 on the grounds that the products were being dumped on the Chinese market at below market prices.

The latest decision follows a review last year that found such dumping still existed.

High temperature and high pressure alloy steel and seamless steel tubes are mainly used in supercritical and ultra-supercritical boilers and steaming-water pipes in power stations.

Source : China Org
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China's Built Road Improves Tajikistan's Transport System

CGTN reported that the Dushanbe-Chanak Highway in Tajikistan, built by the construction company China Road and Bridge Corporation, spans the north and south of the country, turning previously isolated areas into a thoroughfare. The road has provided Tajiks with essential yet unprecedented traffic access for more than a decade.

Over 90 percent of Tajikistan's surface area is covered by mountains. Therefore, its transportation system mainly relies on roads. The Dushanbe-Chanak Highway has become a major route in Tajikistan, connecting the capital Dushanbe with the northern border with Uzbekistan. Measuring 380 kilometers long, it has slashed driving times from 12 hours to only four, significantly shortening the journey. Marom terminal is the first stop along the road when traveling north from Dushanbe.

Mr Rahmatov Anvarbek, manager of the terminal, who's been working here for over 10 years, said that "This is the only terminal in the city that provides long-distance car services to the north." Since the highway opened in 2008, the terminal has seen a big increase of passengers.

The highway includes some record-breaking projects – Shahristan Tunnel, the longest in Central Asia, and a bridge over the Syr Darya River, the longest in Tajikistan. These were all constructed by the CRBC.

Li Changwei, general manager of CRBC's Tajikistan office, told us the project provided over 3,000 jobs for local people, and the highway significantly boosted connectivity within the country. It also gained a national engineering award from the Tajik government.

The CRBC has built 728 kilometers of roads in Tajikistan, investing USD 779 million.

Tajikistan used to be an important stop along the ancient Silk Road, and now acts as an active supporter of China's Belt and Road Initiative. China invested over two billion U.S. dollars as of June 2017 – Tajikistan's biggest source of investment.

Source : CGTN
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Environmental issues to cut Henan aluminium rod output till end Sep

SMM reported that Seven production lines of aluminium rod in Jiaozuo of Henan province will halve their capacity as Wanfang Aluminum limits its supply of molten aluminium from June to the end of September on environmental factors. This is expected to lower local output of aluminium rods by 300 tonne per day.

Wanfang Aluminum in Jiaozuo should not supply molten aluminium to downstream aluminium rod producers during CST 08:00-20:00 daily. Production of primary aluminium at Wanfang Aluminum is not affected.

Source : SMM
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China's Minmetals Rare Earth Starts New Mining Project In Hunan

Reuters reported that China Minmetals Rare Earth, one of the country's largest rare earth miners, has begun construction of a new mining project in the central province of Hunan. The project in Jianghua county is expected to begin production in February 2020, with estimated output of 1,800 tonnes a year of rare earth oxides.

According to the company website, the deposit has ore reserves of 104,300 tonnes. Prices of rare earths, a group of 17 elements used in a wide-range of products from lasers and military equipment to consumer electronics, have hit multi-year highs following a flurry of reports that Beijing could use them in its trade war against Washington. Rare earth exports by China, which supplied 80% of imports by the United States from 2014 to 2017, fell 16% in May from a month earlier.

Source : Reuters
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