China Economy Forum

[Indos]

PGN joins with Chinese company to develop LNG business in China

• News Desk
  The Jakarta Post
  

Jakarta / Wed, February 19, 2020 / 01:21 pm

An engineer with state gas distributor PT PGN checks on the gas network at one of the company's mobile refueling units in Bandung, West Java, on Dec. 5, 2019. (Antara/Raisan Al Farisi)
Publicly listed gas company PGN will partner with a Chinese company to bolster its liquefied natural gas (LNG) development in China, the firm's executive has said.

PGN strategy and business development director Syahrial Mukthar said the firm had signed a memorandum of understanding (MoU) on Friday last week with engineering, procurement and construction (EPC) and manufacturing company WnD (Liaoning) Heavy Industry Co.

The Chinese company will provide logistical solutions for the plan over the next year.

"This partnership will open opportunities to work together in developing the small-scale LNG industry in China as well as in the region," Syahrial said on Tuesday, as quoted by kompas.com.

He added that there was also a possibility for the gas company to cooperate with other companies as China had great potential and various business opportunities.

Read also: PGN mulls global bonds issuance to fund capital expenditure

PNG's recent move is expected to support its vision of becoming a player in the international LNG market, as global demand for LNG has steadily increased thanks to a hike in energy consumption in recent years.

According to PGN’s estimation, China’s potential demand for gas will increase by over 15 percent annually. As such, PGN's expansion into China is the right move to add to the firm's portfolio, Syahrial said.

The state gas company also aims to run six cargos for the global markets, including one or two cargos to Japan this year. The firm saw potential for up to nine cargos to Myanmar by 2021 and 18 cargos for the Philippines by 2023, Syahrial went on to say.

"These programs aim to give benefits [to receiving countries] through our strong capacity for LNG infrastructure," he said. (mai)

https://www.thejakartapost.com/news...company-to-develop-lng-business-in-china.html

 

[Khanivore]

https://twitter.com/x/status/1233806515443662848

 

[JSCh]

China's major industrial enterprises near full production resumption
Source: Xinhua| 2020-03-17 10:57:40|Editor: Lu Hui

BEIJING, March 17 (Xinhua) -- Over 90 percent of the major industrial enterprises in China's provincial-level regions except for certain areas including Hubei, once the hard-hit province of the novel coronavirus, have resumed work and production thanks to region-specific restoration measures, the top economic planner said Tuesday.

Regions including Zhejiang, Jiangsu, Shanghai, Shandong, Guangxi, and Chongqing almost saw nearly 100 percent of their enterprises back on production, said Meng Wei, a spokeswoman with the National Development and Reform Commission.

Data on electricity use also pointed to highly recovered vitality across sectors. The nonferrous metals industry saw power use back to the normal level of last year, while the pharmaceutical, chemical and electronic industries saw their electricity use back to 90 percent of the normal level.

 

[JSCh]

09:01, 17-Mar-2020
China launches 'New Infrastructure,' an innovation-driven program
Updated 10:02, 17-Mar-2020
By Zheng Junfeng

China is launching a "New Infrastructure" campaign to offset the economic impact of the coronavirus pandemic and boost sustainable growth.

The country is often quick to respond with massive investment to shore up growth when facing economic difficulties. But this time, instead of a massive infrastructure overhaul, China is seeking more targeted investments in projects that facilitate innovation and social development.

Those "New Infrastructure" projects are focused in seven areas: 5G networks, industrial internet, inter-city transportation and inner-city rail systems, data centers, artificial intelligence, ultra-high voltage, and new energy vehicle charging stations.

Many of these next-generation areas were mentioned at a meeting of the Communist Party of China Political Bureau Standing Committee on March 4 and earlier policy meetings in February.

"We notice that the new infrastructure campaign is a very hot topic. The new infrastructure is different from the old one. More intelligent, smarter and more digital," said Gu Feng, co-founder & CEO of AIWAYS Automobile, a Chinese EV producer.

China is advancing 5G network construction. /VCG

Local governments have responded quickly. Twenty-five provincial-level regions have put new infrastructure projects in their government work reports, with 21 intending to advance 5G network construction.

Policy incentives have guided market funds into the sectors, but the government is also expected to encourage new infrastructure via special bonds, public-private partnerships, and credit support.

Gu said his company will install over 1,000 public charging stations across the country. He also called for more policy upgrades for building EV charging stations.

"The coronavirus has impacted the Chinese economy significantly. In terms of EV charging poles construction, this situation must be delayed to some point. But it shouldn't be the stumbling block for the move, as the installation of the charging poles has been a long-term plan," he told CGTN.

According to Gu, "The relatively-significant delay might be because of regional supporting policies, such as how to get the approval to build charging poles in residential communities, the power expansion, the unified management of public parking lots, which urges for more specific policies to be carried out.”

China's leading broker Guotai Junan Securities estimates that "New Infrastructure" investment will be about 100 billion yuan (about 14.2 billion U.S. dollars) of the country's massive 17-trillion-yuan (around 2.4 trillion U.S. dollars) Public-Private Partnership projects.

For now, the economical boost is limited, but innovation and digitalization are irreversible trends. And its future growth potential and positive effect on other sectors could be enormous.

Although the investment scale of China's "New Infrastructure" is a relatively small part of the country's overall infrastructure investment, it represents the future. And investment in the future is never too early.

 

[xuxu1457]

China Nightlife During Pandemic may 8th

 

[Han Patriot]

China Nightlife During Pandemic may 8th

The activity in Shanghai is even crazier. I just had bbq last night, the place was ham packed. Pent up consumption

 

[Indos]

More Chinese products to enter Indonesian heavy equipment market

Indonesia's heavy equipment association reported recently that the industry, which last year operated at only 60 percent of capacity, would end up this year with an average of just 30 percent of capacity.

www.thejakartapost.com

 

[Michael Delafuente]

Have you ever heard the name Morse Code? In Morse code, letters and numbers are represented by dots and dashes. A long-distance telegraph system was invented in the 1830s by Samuel Morse and Alfred Vail for use with the telegraph.

 

[Michael Delafuente]

Have you ever heard the name Morse Code? In Morse code, letters and numbers are represented by dots and dashes. A long-distance telegraph system was invented in the 1830s by Samuel Morse and Alfred Vail for use with the telegraph.

 

[bobsm]

Chinese robot vacuums clean up globally​

on: April 25, 2023

Robot vacuum companies from China are cleaning up globally with cutting-edge features and affordable prices, as shown by the player behind Ecovacs cleaners surpassing the maker of Roombas in sales last year, reports Nikkei Asia. The Chinese business, formally known as Ecovacs Robotics, is hoovering up more than consumers.

Investors are embracing the company’s growth potential, sending its market capitalization near RMB 44 billion ($6.38 billion)—roughly five times that of US-based iRobot, the Roomba manufacturer.
“We’re using automated driving technology,” says an Ecovacs sales representative, describing the the company’s latest Deebot vacuums that use artificial intelligence chips and deep learning technology to control movement.

The Deebot is powered by chips from Horizon Robotics, a Chinese autonomous driving technology company founded in 2015 that collaborates with Volkswagen. The vacuum also features Ecovacs’ own lidar—light detection and ranging—sensing system as well as a high-definition camera so it can map a home using data collected for efficient cleaning.

​

Chinese robot vacuums clean up globally

Robot vacuum companies from China are cleaning up globally with cutting-edge features and affordable prices, as shown by the player behind Ecovacs cleaners surpassing the maker of Roombas in sales las

chinaeconomicreview.com